AMC Entertainment has announced that it will be releasing a movie version of Beyoncé’s recent Renaissance World Tour. The film will be shown in thousands of theaters across the U.S., Canada, and Mexico starting from December 1, for a minimum of four weeks. Along with AMC theaters, the movie will also be screened at Regal and Cinemark theaters, including IMAX screens.
Despite the excitement, AMC stock experienced a smaller increase of 1.0% during premarket trading on Monday compared to the initial announcement of Taylor Swift’s tour movie. Investors seem to show some skepticism about whether Beyoncé’s movie can reach the same level of success as Taylor Swift’s.
Taylor Swift is currently on track for the biggest concert tour of all time, and the release of her movie will coincide with her ongoing performances. Industry experts predict that Swift’s tour movie will generate $100-$125 million in revenue during its opening weekend when it hits cinemas on October 13.
While some analysts believe that adding alternative content like concert films can benefit AMC’s business, others remain cautious about the extent of its impact. Over the past year, AMC stock has plummeted by 87%, and in 2023 alone, it has decreased by 78%. These figures take into account a reverse stock split earlier this year and the conversion of AMC Preferred Equity units to common shares.