CEO Lauds ‘Iconic’ Singer Amid Retail Bullishness
The movie grossed $33 million through Sunday, marking the biggest album debut event in cinema history.
AMC Entertainment Holdings (AMC) shares are likely to be in focus as “Taylor Swift: The Official Release Party of A Showgirl,” distributed by the theater chain, took the domestic box office by storm in the Oct. 3-5 weekend.
The movie, which runs for 89 minutes and was advertised as a one-weekend-only “cinematic experience,” grossed $33 million through Sunday, marking the biggest album debut event in cinema history. It was about the making of Taylor Swift’s 12th studio album, “Life of a Showgirl.” The movie collected $13 million internationally, bringing the total global ticket sales to $46 million for the weekend.
AMC had previously collaborated with Swift in 2023, with the former securing the rights to distribute a filmed version of the “Swift Eras Tour” concert. It rakes in $261 million in global ticket sales.
In a post on X, AMC CEO Adam Aron said, “We salute the iconic Taylor Swift for bringing her brilliance and magic to movie theatres this weekend.” “Her cinematic vision was #1 at the box office. What an honor and privilege and joy for AMC Theatres to once again play a role in another of her incomparable triumphs.”
Before the screening, AMC said, with the movie, “global audiences can look forward to the music video for ‘The Fate of Ophelia,’ along with behind-the-scenes footage from the music video shoot, brand new lyric videos, and Taylor’s never-before-seen personal reflections on songs from her 12th studio album, The Life of a Showgirl.”
Domestically, the movie screened in 3,702 theaters, including all 540 AMC theaters. According to The Hollywood Reporter, the film received an A+ CinemaScore, and its strong reception is primarily due to her fans, known as Swifties. About 90% of the ticket buyers were female.
On Stocktwits, retail sentiment toward AMC stock remained ‘bullish’ (63) by late Sunday, with the message volume at ‘high’ levels.
“$AMC Dammmmmnnnn…We should be @ $15/+ !! Big week on deck!” posted one bullish retail watcher on the platform with a GIF of Swift.
AMC stock has lost about 23% this year, even as the broader market, represented by the SPDR S&P 500 ETF (SPY), an exchange-traded fund (ETF) that tracks the S&P 500 Index, has gained more than 15%. The stock weakness is primarily attributable to concerns about the company’s debt burden. Last week, the company announced that it has reduced the principal amount of its senior exchangeable notes due 2030 by an additional $39.9 million, resulting from the comprehensive refinancing transactions completed earlier this year.
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