AMC still riding a 'Taylor Swift: The Eras Tour' wave

By James Rogers

AMC enjoyed strong box-office demand for 'Taylor Swift: The Eras Tour' during the concert film's second weekend

AMC Entertainment Holdings Inc. is enjoying ongoing box-office demand for Taylor Swift's record-breaking concert movie.

"Taylor Swift: The Eras Tour" brought in an estimated $31 million domestically and $10.5 million internationally during its second weekend, according to Comscore data released Sunday. Since its opening on Oct. 12, the movie has brought in $164.79 million globally, according to Comscore.

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In addition to showing "Taylor Swift: The Eras Tour" in its theaters, AMC (AMC) is also the theatrical distributor for the movie. AMC Theatres Distribution and subdistribution partners Variance Films, Trafalgar Releasing, Cinepolis and Cineplex Inc. (CA:CGX) (CPXGF) have clinched deals with movie-theater operators representing more than 8,500 theaters globally to show the film, according to AMC.

"AMC is exhibiting [the Swift concert film] and we are also 'the studio' distributing the movie globally," tweeted AMC CEO Adam Aron last week. "Last weekend, it was the #1 movie on the planet. $92.8 million box office domestically, $123.5 million globally. We are hoping for another big weekend this week too!"

"Taylor Swift: The Eras Tour" remained atop the domestic box office last weekend, ahead of Martin Scorsese's "Killers of the Flower Moon," which brought in an estimated $23 million on its debut weekend, according to Comscore. The new Scorsese movie, which stars Leonardo DiCaprio, also enjoyed a strong opening weekend internationally, bringing in an estimated $21 million.

AMC's stock fell 0.7% in premarket trades Monday. Shares of the movie-theater chain and meme-stock darling have risen 11.6% this month, outpacing the S&P 500 index's SPX decline of 2.2%.

Related: 'Taylor Swift: The Eras Tour' sets records, becoming the biggest-ever Imax opening for a film by a musical artist

Shares of Cinemark Holdings Inc. (CNK), which clinched a deal with AMC to show "Taylor Swift: The Eras Tour," rose 5.1% in premarket trades Monday. Imax Corp.'s stock (IMAX) was up 1.1.% in premarket trades. Last week Imax announced that "Taylor Swift: The Eras Tour," was the largest Imax opening for a concert or documentary film on a musical artist.

-James Rogers

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10-23-23 0921ET

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