Taylor Swift, Beyoncé Concert Films Drove 'Literally All' of AMC Theatres' Latest Revenue Increase – KTVB.com

AMC Theatres execs are singing Taylor Swift and Beyoncé‘s praises from the rooftops. The company is crediting the stars’ respective concert documentaries for an increase in revenue in recent months, saying that “literally all” of those earnings were driven by fans attending their films. 
The theater chain reported fourth-quarter revenue of $1.10 billion — up from $900.9 million in 2022 — and a net loss of 182 million, compared to a net loss of $287.7 million in 2022. Total attendance was up 4.7 percent from the year before, with 51.9 million audience members. 
“What is particularly noteworthy is how much AMC benefited from our trailblazing industry leading efforts with our highly successful distribution of two concert movies Taylor Swift: The Eras Tour and Renaissance: A Film By Beyoncé,” AMC Theater CEO Adam Aron wrote in a press release. “Despite a diminished box office overall, in the fourth quarter compared to the same quarter a year ago, AMC’s revenue grew by 11.5 percent and AMC’s adjusted EBITDA almost tripled. Literally, all of that increase in AMC’s Revenue and EBITDA is attributable to our having shown these two movies in our theatres in the U.S. and internationally.”

Apple TV+

‘Renaissance: A Film By Beyoncé’

As a result of Swift and Beyoncé’s big screen successes, fans can expect to see more musical acts following suit in the year ahead. Aron noted that AMC’s “phones have been ringing off the hook” with interested artists, and the company plans to have more concert movies “later in 2024 and/or 2025.” 
Aron also said on an earnings call that, beginning March 1, the theaters will begin airing three different 30-second Nicole Kidman commercials. A spokesperson clarified that these spots aren’t new, but are “never-before-seen-in-theatres versions of the original, iconic ad.”
Rounding out 2023, AMC Theatres reports a total revenue of $4.8 billion — up from $3.9 billion the year prior. It’s an improvement on the company’s overall net loss, which was up to $396.6 million from 2022’s $577 million. 

John Shearer/Getty Images

Swift and Beyoncé put on a united front in promoting their respective concert films last year. Queen Bey made a surprise appearance on the red carpet for Swift’s Eras Tour Hollywood film premiere in October. 
“I’m so glad I’ll never know what my life would’ve been like without @beyonce‘s influence,” Swift gushed on Instagram at the time. “The way she’s taught me and every artist out here to break rules and defy industry norms. Her generosity of spirit. Her resilience and versatility. She’s been a guiding light throughout my career and the fact that she showed up tonight was like an actual fairytale. 😇🙏”

Getty Images

Then, Swift traveled to London to show her support at the U.K. premiere of Renaissance in November.
The following month, Swift’s The Eras Tour Film was nominated for a Golden Globe Award in the category of Cinematic and Box-Office Achievement as it set the record for the highest-grossing concert film ever, making over $1 billion. The award ended up going to Barbie, which, according to Box Office Mojo, has grossed nearly $1.5 billion worldwide since it’s July 2023 release. 
These days, Swift is back on the road continuing her Eras Tour international dates as she gears up to release her 11th studio album, The Tortured  Poets Department, on April 19. Beyoncé, meanwhile, just became the first Black female artist to top Billboard’s Hot Country Songs chart with her new single,  “Texas Hold ‘Em.” Her next album, Renaissance: Act II, will drop on March 29
Dolly Parton Congratulates Beyoncé on Making Country Music History
Beyoncé Makes Billboard Country History With ‘Texas Hold ‘Em’
Jack Antonoff Defends Taylor Swift’s Songwriting Ability
Why Adam Sandler Gets ‘a Little Jumpy’ Around Taylor Swift
Travis Kelce Became ‘a Different Man’ After Dating Taylor Swift
Next up in 5
Example video title will go here for this video
Next up in 5
Example video title will go here for this video

In Other News
Notifications can be turned off anytime in the browser settings.



Related Posts

Jürgen Klopp and wife Ulla have Taylor Swift plan as superstar visits Liverpool – Liverpool.com

Liverpool will welcome Taylor Swift to Anfield next month. Jürgen Klopp and his wife Ulla are among those in possession of the hottest ticket in town.Sign up…

12 Taylor Swift's Boyfriends Over The Years and The Songs She's Written About – trstdly.com

12 Taylor Swift’s Boyfriends Over The Years and The Songs She’s Written About  trstdly.comsource

Taylor Swift Is About To Block Billie Eilish From A New No. 1: Report – Forbes

LOS ANGELES, CALIFORNIA – DECEMBER 12: (L-R) Taylor Swift and Billie Eilish are seen with FIJI Water … [+] and JNSQ at Billboard’s Women In Music 2019…

Taylor Swift vs Billie Eilish: Vinyl remark and album release drama explained – Hindustan Times

Subscribe Now! Get features likeTaylor Swift and Billie Eilish have recently found themselves at the center of an online controversy. The conflict has two main aspects, Eilish’s…

Taylor Swift's Eras Tour: Singer Suffers Wardrobe Malfunction – Bustle

CelebrityShe handled it like a pro. Not even an onstage wardrobe malfunction can trip up Taylor Swift. During the final night of her Eras Tour in Stockholm,…

Taylor Swift Rips Open Her Dress on Stage in Eras Tour Performance Wardrobe Malfunction – Entertainment Tonight

Taylor Swift can do it with a broken mic. The 34-year-old pop songstress handled a sound and wardrobe malfunction like a pro over the weekend, boldly untying her…

Leave a Reply

Your email address will not be published. Required fields are marked *