AMC Entertainment (NYSE:AMC) stock is in focus after the theater chain announced that it will begin showing Renaissance: A Film by Beyoncé in thousands of locations around the world starting on Dec. 1. Before that, international movie-goers will be able to purchase tickets starting on Nov. 9 in places like Asia, Europe and Africa. Interested customers in the U.S. can currently purchase tickets on Fandango and through other channels.
“Received with extraordinary acclaim by International and US media alike, Beyoncé’s outstanding performance during RENAISSANCE WORLD TOUR created a sanctuary for freedom, acceptance, and shared joy,” said AMC. “Its maximalist production welcomed more than 2.7 million fans from around the world, who travelled across oceans to enjoy Club RENAISSANCE.”
Starting on Dec. 1, the film will show on Thursdays, Fridays, Saturdays and Sundays multiple times each day. Ticket prices in the U.S. will start at $22 plus tax while ticket prices in international areas will be priced comparably.
AMC Stock: AMC to Begin Showing Renaissance: A Film by Beyoncé on Dec. 1
Renaissance: A Film by Beyoncé will showcase Beyoncé’s Renaissance concert tour which consisted of 56 shows across 39 cities and 12 countries. The release of the film will follow Taylor Swift | The Eras Tour, which raked in more than $100 million in advance ticket sales across the world. The film was a major success for AMC and Swift, as it broke AMC’s U.S. record for the highest ticket-sales revenue during one day. The film hit the screen on Oct. 13 across 8,500 theaters in over 100 countries.
Meanwhile, AMC has confirmed that it will report its third-quarter earnings on Wednesday, Nov. 8 after the market close. Some revenue from ticket sales of Taylor Swift | The Eras Tour will be included in the earnings, as pre-ticket sales began before Sept. 30 while the film began showing on Oct. 13. Ticket sales from Renaissance: A Film by Beyoncé will be reflected in the company’s fourth-quarter earnings.
Wall Street analysts expect the company to report Q3 revenue of $1.227 billion, which would reflect year-over-year (YOY) growth of 26.73%. Unlike last quarter’s surprise GAAP EPS of 9 cents, showing profitability, AMC is expected to report a GAAP EPS loss of 31 cents.
On the date of publication, Eddie Pan 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.
