Concert films by Taylor Swift and Beyonce generated 'literally all' of AMC's revenue

AMC Entertainment gives Taylor Swift And Beyoncée a standing ovation… the theater chain says its concert films are behind “literally all” of its revenue to close out 2023.

AMC just reported its quarterly earnings to Wall Street, and the national chain says Bey and Tay Tay helped boost its financial position.

Thanks to 'Taylor Swift: The Eras Tour' and 'Renaissance: A Film By Beyoncé', AMC brought in $1.1 billion in revenue in the fourth quarter.

This huge figure is higher than the $990.9 million in revenue that AMC reported in the fourth quarter of 2022, a huge increase as far as AMC is concerned.

Taylor and Beyonce also get their flowers, the CEO of AMC Adam Aron says that “literally all” of the increased revenue is the result of the singers' concert films.

Remember, last year AMC signed deals with Taylor and Beyonce to exclusively distribute their concert films, and it turned out to be a brilliant business move for everyone involved.

Adam adds… “To that end, our praise for Taylor Swift and Beyoncé Knowles Carter knows no bounds.”

Without the box office boost from Swifties and the Beyhive, things would probably look pretty bleak for AMC right now… the company says it's still recovering from last year's Hollywood strikes.

Overall, AMC still lost $182 million this quarter, but that's far less than last year's $287.7 million loss…hence AMC executives' joy over Taylor and Beyonce.

Essentially, the theater chain is still hurting, but the superstar singers have helped reduce the bleeding to a trickle.

Now AMC is turning to another celebrity to get butts in theater seats… AMC announced a trio of new 30-second Nicole Kidman commercials – you know the ones about 'making films better' – that will be shown in cinemas from Friday.

With Taylor and Beyonce changing the game here with their concert films, AMC says they will have more concert films in 2024 and 2025.

Aron says the company's phones are ringing off the hook with calls from various musicians.