Despite the market’s downturn this morning, AMC Entertainment (NYSE:AMC) stock is climbing about 2% after Taylor Swift announced that her upcoming movie would be released globally. As a result, the film will be shown at theaters overseas in addition to those in the U.S.
AMC CEO Adam Aron has said that Swift’s move will be a huge catalyst for AMC, which is showing the movie at all of its theaters in the U.S. and distributing it both domestically and overseas. In the wake of Swift’s announcement today, the CEO reported that the film will help AMC even more than he had previously believed.
More About the Movie and AMC’s Distribution of It
Called Taylor Swift: The Eras Tour, the artist’s film is expected to be shown in over 100 nations, AMC announced today. ODEON Cinema, which AMC owns, will play the film at all of its theaters in Europe, and over 4,000 North American theaters are already slated to show the movie.
AMC wants the movie to be shown in over 7,500 movie theaters around the world.
The film was able to be made despite the ongoing Hollywood strikes due to Swift’s direct negotiations with SAG-AFTRA. Her father, Scott Swift, also came up with the idea of bypassing Hollywood studios and going directly to theaters like AMC to distribute it.
Due to debut on Oct. 13, the documentary/concert film features Swift singing songs at her most recent tour. Experts expect the movie’s opening to generate around $75 million to $100 million in the U.S.
AMC Stock: Aron’s Reaction
“We are so grateful to AMC supporters in Europe. You asked for this,” Aron wrote on his account on X, which was formerly known as Twitter.
On Sept. 24, Aron wrote, “No one has greater respect and appreciation for Taylor Swift than all of us at AMC Entertainment. Her concert film of The Eras Tour…. is shattering our all-time records.”
On the date of publication, Larry Ramer did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
