‘Taylor Swift: The Eras Tour’ hits movie theaters Oct. 13
“Taylor Swift: The Eras Tour” hits movie theaters on Oct. 13, and the eagerly anticipated concert film looks set to break more records amid huge interest.
In addition to showing “Taylor Swift: The Eras Tour” in its own cinemas, movie-theater chain and meme-stock darling AMC Entertainment Holdings Inc. AMC, +4.21% is also the theatrical distributor for the movie. AMC recently announced that the film had shattered the company’s record for single-day advance ticket sales, with $26 million in ticket sales revenue on Aug. 31.
Cinemark Holdings Inc. CNK, -1.24% is also set to get a boost from “Taylor Swift: The Eras Tour” 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. “Taylor Swift’s upcoming concert film is breaking presale records at Cinemark, with demand 10x higher than any past event film,” Hickey wrote.
Major concert films are in the spotlight, boosted by the high-profile tours by Swift and Beyoncé. Earlier this month, Beyoncé’s production and management company Parkwood Entertainment and AMC announced that “Renaissance: A Film by Beyoncé” will hit AMC theaters in the U.S., Canada and Mexico on Dec. 1. Cinemark and Marcus Corp.’s MCS, -0.74% Marcus Theatres are also showing the Beyoncé movie.
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