AMC Entertainment released its quarterly earnings statement on February 28, and the good news was all because of Taylor Swift and Beyoncé.
The theater chain’s revenue grew by 11.5% in the fourth quarter, despite the fact that across the industry, box office receipts were down. In announcing the results, AMC Entertainment Chairman and CEO Adam Aron said, “Literally, all of that increase is … attributable to our having shown [Taylor Swift | The Eras Tour and Renaissance | A Film By Beyoncé] in our theatres in the U.S. and internationally.”
Aron went on to note that the two concert movies alone made up one-ninth of the amount the entire U.S. box office took in during the fourth quarter. He added, “This is a stunning result given that neither of these films were on anyone’s drawing board until mid-year.”
Noting that the two smash concert films were the first ones ever distributed by AMC in the company’s more than 100-year history, Aron concluded, “Our praise for Taylor Swift and Beyoncé Knowles Carter has no limit.”
“We offer our boundless thanks to these two world class artists for entrusting AMC to collaborate with them as to the theatrical exhibition of their two masterpiece creations.”
AMC announced in January that Taylor’s Eras Tour movie has officially become the highest-grossing film in box office history among concert films and documentary films. It will stream on Disney+ starting March 15.
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