Taylor Swift And Beyoncé Drove All Of AMC Theatres’ Quarterly Profits
Taylor Swift attends the 2023 MTV Video Music Awards at the Prudential Center on September 12, 2023 in Newark, New Jersey. Beyonce Knowles-Carter attends the European Premiere of Disney's "The Lion King" at Odeon Luxe Leicester Square on July 14, 2019 in London, England.
Tay and Bey’s concert films have single-handedly driven all of AMC Theatres’ fourth-quarter profits. According to The Hollywood Reporter, Taylor Swift’s The Eras Tour and Beyoncé’s Renaissance: A Film By Beyoncé brought in $1.10 billion for the chain. For the full year, the theater chain reported a total revenue of $4.8 billion, up $577 million from 2022.
AMC Theatre CEO Adam Aron said that “literally all” of the increase in revenue in the fourth quarter was driven by the two icons. Total theater attendance in the fourth quarter grew to 51.9 million, up 4.7 percent from a year ago. What Aron finds particularly noteworthy is how much the company has benefited from the two concert movies. Despite a diminished box office overall, all of that increase in AMC’s Revenue and EBITDA (earnings before interest, taxes, depreciation, and amortization) is attributable to the two films shown in the US and internationally. As we previously reported, both Swift and Beyoncé supported one another at their film premieres last year. There have been some (maybe hopeful) rumors that the artists might work together for Bey’s upcoming country album, Renaissance: Act II.
Aside from these two films, the fourth quarter domestic industry-wide box office was down 35 percent, as the industry continues to deal with the lingering impact of the dual writers and actors strikes. The CEO believes the impact of the strikes will ease up by this upcoming spring, as films like Dune: Part Two, Kung Fu Panda 4, Immaculate, Monkey Man, The Ministry of Ungentlemanly Warfare, and Challengers among the highly-anticipated films set to release.
As we previously reported, The Eras Tour is now the highest-grossing concert/documentary film of all time. Following its December 31 debut, The Eras Tour movie surpassed $261.6 million, pushing it past the previous record holder, Michael Jackson’s This Is It, the posthumous 2009 doc that grossed $261.2 million at the global box office.
5 Pop Stars With Acting Careers
Musicians are a talented and creative bunch. Some artists have started out in theater or dance before taking on a professional career in music. For example, when Cher was in fifth grade, she produced a performance of the musical Oklahoma! for her teacher and class. The “Believe” singer has starred in 20 films since 1965, including The Witches of Eastwick, Moonstruck, and Burlesque. Madonna took classical piano lessons as a child but switched over to ballet lessons. She pursued a dance career and attended the University of Michigan with a dance scholarship. Madonna has starred in more films than she has albums, starring in 15 films since 1985, including A League of Their Own and Four Rooms.
Artists Turned Actors Across Decades
Moving to the pop stars of the early aughts, singers like Britney Spears, Justin Timberlake, and Christina Aguilera all had taken on acting careers as well. Britney starred in 2002’s Crossroads after recording three studio albums. Justin starred in 22 movies. Meanwhile, Christina starred in three films, one of which she starred alongside Cher: Burlesque. Though some pop stars take on acting when their music careers are declining in popularity, others have taken on acting equally or stronger than their music careers. Jennifer Lopez is one successful pop star that comes to mind. She has steadily pushed out music since 1999. With nine studio albums, J-Lo has an impressive 35 acting credits below her belt. Lady Gaga is another massive pop icon who has emerged onto the acting scene to critical acclaim. Gaga has five solo studio albums, two collaborative albums with the late Tony Bennett, and one soundtrack album from her starring film debut in A Star Is Born.
We took a look at musicians who made the transition to the big screen and compiled a list of five who have had strong roles. See which of our favorite pop stars made the list.
Laila Abuelhawa is the Top 40 and Hip-Hop pop culture writer for Beasley Media Group. Being with the company for over three years, Laila's fierce and fabulous red-carpet rankings have earned her a feature on 'The Late Show with Stephen Colbert!' Her favorite stories are those surrounding the latest in celebrity fashion, television and film rankings, and how the world reacts to major celebrity news. With a background in journalism, Laila's stories ensure accuracy and offer background information on stars that you wouldn't have otherwise known. She prides herself in covering stories that inform the public about what is currently happening and what is to come in the ever-changing, ever-evolving media landscape.
