AMC Entertainment Holdings Inc. is celebrating the impressive success of the recently announced film version of Taylor Swift’s Eras Tour. On the day of the film’s announcement, AMC generated a staggering $26 million in advance-ticket-sales revenue for “Taylor Swift: The Eras Tour.” This single-day ticket sales record easily surpassed the previous record set by “Spider-Man: No Way Home,” which grossed $16.9 million.
Additionally, it took only three hours for “Taylor Swift: The Eras Tour” to break the record for first-day 24-hour ticket sales, previously held by “Spider-Man: No Way Home” in 2011.
In light of this exceptional demand, AMC plans to accommodate more viewers by adding additional showtimes wherever possible. During the film’s run, which starts on October 13, AMC has committed to offering four showtimes per day on Thursdays through Sundays.
Standard showings for adults will be priced at $19.89, in homage to Taylor Swift’s birth year and her renowned album “1989.” Children and seniors, on the other hand, will enjoy a ticket price of $13.13, paying tribute to Swift’s lucky number.
Despite this anticipated success, AMC’s stock performance has had a relatively modest response since the film announcement. Although shares initially surged by 9.2% during Thursday’s session, they later fell by 1.4% by the end of the day. However, the stock has rebounded and is currently up 3.6% during Friday morning trading.
AMC shares recently experienced their biggest monthly percentage decline since the company went public in December 2013, dropping by 71% throughout August.
In related news, Cinemark Holdings Inc. shares have increased by 1.4% during Friday morning trading, while Imax Corp.’s stock has shown a slight decline.
