Taylor Swift and Beyoncé concert films are theater revenue saviors

It can be said that Taylor Swift’s The Eras Tour and Beyoncé’s Renaissance have both achieved great success since their premiere, opening a new era in cinemas.

 

Beyoncé’s Renaissance and Taylor Swift’s The Eras Tour both break box office records

According to Deadline , the world’s largest cinema chain AMC Theaters saw revenue increase 11% to $1.1 billion, along with impressive numbers in the fourth quarter of 2023 thanks to two concert films by Taylor Swift and Beyoncé.

‘All the revenue growth is thanks to Taylor Swift and Beyoncé’

In 2023, both music icons  Beyoncé  and Taylor Swift shined brightly with epic world tours, filling stadiums with fiery performances and capturing the moment through emotional music videos.

Renaissance Concert Film: A Film By Beyoncé

Not only did the two stars help boost the global economy over the past year, but they also helped the AMC Theater chain post strong revenue growth in the fourth quarter of 2023 thanks to the release of two concert films, The Eras Tour and Renaissance .

All of the revenue growth in the fourth quarter of 2023 was driven by Taylor Swift and Beyoncé, said Adam Aron, CEO of AMC Theaters.

Total cinema attendance was 51.9 million, up 4.7% year-on-year.

“It is particularly noteworthy that AMC has benefited from its industry-leading efforts to successfully distribute two concert films, Taylor Swift: The Eras Tour and Renaissance: A Film By Beyoncé .

Despite the overall decline in box office revenue, AMC’s revenue increased 11.5% year-over-year in the fourth quarter.

Literally all of the revenue and AMC growth is due to us showing these two movies in theaters in the US and internationally,” said Adam Aron.

Taylor Swift: The Eras Tour  was released in October, grossing over $180 million domestically and $261 million worldwide.

From the first day of its release, Taylor Swift’s historic 168-minute quickly broke box office records and achieved the most impressive opening number ever for a concert film.

Taylor Swift’s The Eras Tour became a box office phenomenon as soon as it was released

Renaissance: A Film By Beyoncé  opened in December and grossed $33.9 million domestically and $43.9 million worldwide.

Not to be outdone by The Eras Tour, Beyoncé’s nearly three-hour film also exploded in its opening weekend, becoming the highest-grossing film opening in early December in two decades.

In light of the resounding success of the two outstanding concert films, AMC representatives sent their thanks to both Taylor Swift and Beyoncé:

“We extend our deepest gratitude to these two world-class artists for entrusting AMC with the opportunity to collaborate and premiere their two masterpieces.”

In addition, the AMC Theater CEO also shared that in addition to the two films above, the industry’s box office revenue last year was quite gloomy due to the continuous impact of the double strikes.

However, he also believes that the box office will start growing again as early as March 2024.