AMC Entertainment sees positive momentum with Taylor Swift concert film

Shares of AMC Entertainment Holdings Inc. continued their upward trajectory, gaining 5.6% during Thursday’s trading session. This marks a five-session winning streak, reminiscent of their earlier success that ended on May 1.

The anticipation surrounding Taylor Swift’s concert film, “Taylor Swift: The Eras Tour,” has been met with record-breaking fervor. As a result, additional showings have been added due to overwhelming demand. In fact, Swift herself took to Twitter to announce early-access screenings of the movie starting on Thursday.

According to industry sources, the global opening of “Taylor Swift: The Eras Tour” is projected to earn between $150 million and $200 million. If achieved, this would set an all-time record for concert films. The movie celebrated its premiere in Los Angeles on Wednesday, generating significant excitement among fans.

Notably, “Taylor Swift: The Eras Tour” has garnered even more anticipation than recent summer blockbusters such as “Barbie” and “Oppenheimer.” Data from Taboola.com Ltd., a news publisher technology company, revealed that in the seven days leading up to its release, news coverage of the Taylor Swift concert film received over 9 million views. This amounts to approximately 30% more page views than “Barbie” and “Oppenheimer” had prior to their premieres.

In addition to screening the film in its own theaters, AMC is the theatrical distributor for “Taylor Swift: The Eras Tour.” The company recently announced that the movie shattered its record for single-day advance ticket sales, generating $26 million in revenue on August 31.

Cinemark Holdings Inc. is also poised to benefit from the popularity of “Taylor Swift: The Eras Tour” after securing a deal with AMC to showcase the film. Cinemark is even offering Private Swiftie Parties, allowing fans to rent out private auditoriums for an exclusive viewing experience. Nonetheless, Cinemark’s shares declined by 2.7% at the end of Thursday’s trading session.

In summary, AMC Entertainment is currently riding high on the success of the Taylor Swift concert film, which has garnered significant attention and broke records even prior to its official release. This positive momentum is expected to benefit not only AMC but also Cinemark Holdings Inc. as they join forces to cater to the insatiable demand from fans.