America’s largest theater chain – AMC Theaters – said total revenue in the fourth quarter of 2023 reached 1.1 billion USD thanks to concert films of Taylor Swift and Beyoncé.
According to Hollywood Reporter on February 27, AMC Theaters CEO Adam Aron said the theater system welcomed about 51.9 million viewers in the fourth quarter of last year, an increase of 4.7% compared to 2022. Total revenue in 2023 reached 4.8 billion USD, nearly a billion USD more than 2022, thanks to the attraction of Taylor Swift: The Eras Tour and Renaissance: A Film by Beyoncé in the US and international markets.
Beyoncé and Taylor Swift at the album launch “Renaissance” in London in November 2023. Photo: Beyonce.com
“Even though the entire cinema industry’s revenue declined, AMC’s fourth quarter still increased its profits by 11.5%, leading to the EBITDA index (financial data showing profits before interest, taxes, depreciation and price losses). value) three times higher than the same period last year,” Adam Aron said.
The CEO also said that “the company’s phone keeps ringing” because many artists have asked to cooperate in distributing personal concert films. According to him, many music projects will be released by the end of this year or 2025.
In fact, AMC Theaters only made a lot of profit from two movie projects by Taylor Swift and Beyoncé, other quarters were still bleak. The profit of the domestic theater system decreased by 35% compared to the same period in 2019 due to the impact of the double strike wave. Adam Aron believes the rally will subside this spring, predicting sales will start growing again in March or summer, especially during the year-end period.
Taylor Swift, 35 years old, is known as the “country music princess” of the American music industry. She debuted in 2006 and soon reaped many achievements, receiving 12 Grammy awards, 29 Billboard awards and success with many international tours. In December 2023, the Guinness organization recognized the artist’s Eras Tour as the highest-grossing tour of all time, reaching more than one billion USD.
Taylor Swift: The Eras Tour launched in October 2023, quickly becoming a global box office sensation. Currently, the work exceeds more than 261 million USD, becoming the highest-grossing concert documentary of all time. The 168-minute film chronicles the artist’s historic world tour in his music career. The Guardian called this film project the clearest proof of a superstar’s success.
Beyoncé, 42 years old, is one of the most successful artists in the world with more than 100 million records sold globally. Throughout his career, the singer won many honors such as the Grammy, Billboard, MTV, American Music Award. Forbes magazine twice honored her as the Most Powerful Woman in the World’s Entertainment Industry, in 2015 and 2017. She is also the person who has won the most Grammy awards with 32 golden trumpets, dating back to her time working in the groups Destiny’s Child and The Carters (with Jay-Z). Beyoncé married rapper Jay-Z in 2008 and has three children – 11-year-old Blue Ivy Carter and six-year-old twins Rumi and Sir Carter.
Renaissance: A Film by Beyoncé was released in December 2023, telling about many important stages in the “Grammy queen’s” 5-month long Renaissance World Tour. At the same time, the work describes the artist’s care in the production process and Beyoncé’s expectations in her career. Behind-the-scenes videos from the making of his seventh studio album Renaissance (2022) also appear in the film. According to Media Research Company Comscore, the project grossed $21.8 million in its opening weekend. Rolling Stones likens Renaissance: A Film by Beyoncé to a superhero epic in concert film form.
Trailer for the global version of the concert film “Renaissance: A Film by Beyonce”. Video: YouTube Beyoncé
