AMC CEO: Taylor Swift, Beyonce Drove “Literally All” of AMC Theatres’ Quarterly Revenue Rise
Beyonce and Taylor Swift have dominated the live circuit and their titan-sized success is positively impacting the movie box office too. Particularly for AMC Theatres. Full story below… The Pop titans blazed the big screen with their concert films ‘Taylor Swift: The Eras Tour’ and ‘Renaissance: A Film By Beyonce’ » Read more about: AMC CEO: Taylor Swift, Beyonce Drove “Literally All” of AMC Theatres’ Quarterly Revenue Rise » The post AMC CEO: Taylor Swift, Beyonce Drove “Literally All” of AMC Theatres’ Quarterly Revenue Rise appeared first on ..::That Grape Juice.net::.. - Thirsty?.
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Beyonce and Taylor Swift have dominated the live circuit and their titan-sized success is positively impacting the movie box office too.
Particularly for AMC Theatres.
Full story below…
The Pop titans blazed the big screen with their concert films ‘Taylor Swift: The Eras Tour’ and ‘Renaissance: A Film By Beyonce’ respectively – both of which topped the US box office and fared well internationally.
Both stars bypassed more popularized distribution models – such as streaming and conventional studio pacts – to team with AMC directly.
In an address to investors about the company’s performance, AMC Theatres CEO Adam Aron shared that “literally all” of the increase in revenue in the fourth quarter of 2023 was driven by Queen Bey and Swift.
Total attendance in the fourth quarter grew to 51.9 million, up 4.7 percent from a year ago.
Aron said in a statement:
“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 Beyonce.”
Continuing, he said:
“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.”
More power to them!
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The post AMC CEO: Taylor Swift, Beyonce Drove “Literally All” of AMC Theatres’ Quarterly Revenue Rise appeared first on ..::That Grape Juice.net::.. - Thirsty?.
