Taylor Swift, Beyonce's concert films drive theatre revenue to new heights

Taylor Swift and Beyoncé proved to be the ultimate lucky charms for the AMC Theatres in 2023.

The firm recently shared the rise in revenue they witnessed because of the singers' separate concert documentaries, with the statement that "literally all" of those proceeds came from fans attending their films.

The theatre chain recorded a net loss of 182 million in the fourth quarter of 2022, down from a net loss of $287.7 million in 2022, and revenue of $1.10 billion, up from $900.9 million in 2022. 

There were 51.9 million audience members i.e. a 4.7% increase in attendance over the previous year.

"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 Beyoncé," AMC Theater CEO Adam Aron said in a press release.

"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. Literally, all of that increase in AMC’s Revenue is attributable to our having shown these two movies in our theatres in the U.S. and internationally," he added.

Adam also shared that Taylor and Beyonce's success has promoted more artists to release their concert movies "later in 2024 or 2025."