AMC Entertainment is feeling the effects of Taylor Swift’s massive fan following.
The movie theater chain announced that “Taylor Swift: The Eras Tour” concert film had grossed over $100 million in advance ticket sales. I Photo: Taylor Swift Facebook
Shares of AMC surged 11.5% in Friday afternoon trading after the movie theater chain announced that “Taylor Swift: The Eras Tour” concert film had grossed over $100 million in advance ticket sales, as reported by Sergio Padilla for CNN.
The company stated on Thursday that audience demand for the film "has been incredible from the moment it was first announced."
AMC noted that the US audience demand has been particularly strong among viewers choosing to watch the film in large-screen formats such as IMAX.
Swift generated early buzz for the film on August 31 when she announced it to her nearly 275 million followers on Instagram. “Taylor Swift: The Eras Tour,” already the most profitable concert film in history, opens on Friday, October 13.
There was little doubt about the success of the three-hour film, as the concert tour is expected to surpass $2 billion in North American ticket sales. “Taylor Swift: The Eras Tour” also broke an AMC record for advance first-day ticket sales at $26 million.