âTaylor Swift: The Eras Tourâ hits movie theaters on Oct. 13, and the eagerly anticipated concert film looks set to break more records amid huge interest.Â
The Hollywood Reporter reports that the movie version of Swiftâs blockbuster concert tour is set for a global opening of $150 million to $200 million, which would be a record for a concert film.
So fierce has been demand for the tour documentary on the big screen, that Taylor herself announced Wednesday on X that one-day early access showings would be offered in the U.S. and Canada, meaning keen fans can see it on Thursday.
âLook what you genuinely made me doâŠâ she wrote, adding that more showtimes would be added Friday and throughout the weekend.
In addition to showing âTaylor Swift: The Eras Tourâ in its own cinemas, movie-theater chain and meme-stock darling AMC Entertainment Holdings Inc.
AMC,
is also the theatrical distributor for the movie. AMC recently announced that the film had shattered the companyâs record for single-day advance ticket sales, with $26 million in ticket sales revenue on Aug. 31. Shares of AMC surged last week after the company announced that âTaylor Swift: The Eras Tourâ has brought in more than $100 million in global advance ticket sales revenue.
Related: AMCâs stock surges as Taylor Swift concert movie passes $100 million in advance ticket sales
The companyâs stock is up 3% Wednesday, compared with the S&P 500âs
SPX
decline of 0.03%.
The arrival of âTaylor Swift: The Eras Tourâ is great news for the movie-theater industry, which has been dealing with the impact of the Hollywood strikes, according to Benchmark analyst Mike Hickey. âThe overwhelming success of the film has come as a boon for theaters, especially during times when Hollywood release schedules have been affected by strikes,â he wrote in a note. âThe concert movie genre appears to be gaining traction again, with BeyoncĂ©âs film âRenaissanceâ also set to release soon through AMC.â
Of seven analysts surveyed by FactSet, four have a hold rating and three have a sell rating for AMC.
Also read: From Taylor Swift and Beyoncé to blockchain and AI: Music ETF CEO eyes the next big thing
Cinemark Holdings Inc.
CNK,
is also set to get a boost from âTaylor Swift: The Eras Tourâ after clinching a deal with AMC to show the movie. Last week, Benchmark raised its Cinemark price target to $22 and reiterated its buy rating for the movie-theater chain. âTaylor Swiftâs upcoming concert film is breaking presale records at Cinemark, with demand 10x higher than any past event film,â Hickey wrote. âAdult tickets are $20 and childrenâs $13, likely raising the quarterâs average ticket price,â he added.
The movie-theater chain is also offering Private Swiftie Parties, where fans can hire a private auditorium to see âTaylor Swift: The Eras Tour.â Shares of Cinemark are down 0.5% Wednesday. Of 10 analysts surveyed by FactSet, six have a buy rating, three have a hold rating and one has a sell rating for Cinemark.
Major concert films are in the spotlight, boosted by the high-profile tours by Swift and BeyoncĂ©. Earlier this month, BeyoncĂ©âs production and management company Parkwood Entertainment and AMC announced that âRenaissance: A Film by BeyoncĂ©â will hit AMC theaters in the U.S., Canada and Mexico on Dec. 1. Cinemark and Marcus Corp.âs
MCS,
Marcus Theatres are also showing the Beyoncé movie.
Related: âBarbieâ in the rearview mirror: Hereâs a potential red flag for a U.S. consumer spending slowdown
Data from Apollo Global Management indicate that movie-theater visits have slowed significantly in recent weeks, after a spike driven by summer blockbusters âBarbieâ and âOppenheimer.â
Barbara Kollmeyer contributed.