Sales of the movie “Taylor Swift’s Eras Tour” give AMC, the former memorabilia stock on Wall Street, a real boost.
The film, which will be screened in more than 100 countries next week, has so far sold more than $100 million in ticket sales, the equivalent of one billion kroner.
– Public demand for the concert film has been incredible since it was first announced, writes cinema distributor AMC A press release.
– It took less than 24 hours to break AMC’s US record for the highest box office gross in a single day in AMC’s 103-year history.
The cinema chain rose more than 11 percent on the U.S. stock market Friday evening, but its partner Cinemark is also getting real stock market gains.
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The epidemic caught on
AMC stock has been very volatile and at times very popular among small savers. When the pandemic hit in 2021, the stock became known as a “meme share”, meaning it skyrocketed after it went viral on the internet.
Since then there has been a steep decline. Even with today’s significant rise, the stock has fallen nearly 98 percent over the past two years.
Recently The company brought in about $325 (NOK 3.5 billion), which CEO Adam Aron described as a milestone.
– It has strengthened our ability to survive and then do well. This infusion of capital gives flexibility to move into the recovery phase, he said.
More concert pictures
AMC will show the film in 4,000 theaters in the United States, but has also made deals to screen in other countries.
Big concert movies are popular now. AMC is also selling tickets to Beyoncé’s movie, which premieres in late November.
AMC is the largest movie screening company in the United States and Europe, the company said. It has around 900 theaters and 10,000 theaters worldwide.
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