AMC Boss Credits Taylor Swift And Beyonce For "Literally All" Of Its Recent Success

David Wolinsky
3/1/2024

AMC Entertainment's latest earnings call unveiled a significant surge in revenue, attributing a portion of the success to contributions from Taylor Swift and Beyoncé. CEO Adam Aron attributed "literally all" of the company's 11.5% revenue growth in Q4 of 2023 to the concert films documenting Swift's Eras and Beyoncé's Renaissance tours, as reported by Business Insider.Aron described this as a "stunning result," noting that these films were the first distributed by AMC in its 103-year history. Swift's film alone grossed $275 million worldwide, becoming the highest-grossing concert film and documentary ever. For the entire year of 2023, AMC witnessed a 19% increase in attendance and a 23% rise in annual revenue, surpassing $4.8 billion.AMC's quarterly revenues reached $1,104.4 million, compared to $990.9 million for the same period in 2022. But for these concert films, their impact wasn't confined to AMC--Aron revealed that the concert films accounted for one-ninth of Q4 box office earnings industry-wide domestically.Continue Reading at GameSpot...

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