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.
The success has sparked interest from other artists, with Aron stating that AMC’s phones are “ringing off the hook” with inquiries about screening their concert films in 2024 and 2025. Aron also confirmed plans to explore opportunities beyond music.
“We could look to comedy, we could look to sports,” Aron said. “There has to be ways to create alternate content that will not replace what Hollywood’s doing, but will augment what Hollywood is doing by filling some of those empty seats that are just sitting there waiting to be filled.”
Taylor Swift’s Eras Tour (Taylor’s Version) arrives on Disney+ on March 15.
