In December of this year, cinemas will turn into Bey Hive.
Immediately after signing a distribution agreement to show Taylor Swift’s filmed “Epoch” tour in cinemas, AMC Entertainment
entered into a partnership agreement with Parkwood Entertainment to present a documentary about Beyonce’s album “Rebirth” and the tour in cinemas.
The film will premiere in theaters on Thursdays, Fridays, Saturdays and Sundays for about four weeks starting on December 1. Tickets at standard time will start at $22, and premium widescreen screens such as IMAX and Dolby Cinema will be available at a higher price. The film will be shown in various cinemas across the country, including AMC, Regal and Cinemark.
, Sinepolis, Syneplex and Harkins.
Beyonce’s appearance on the movie calendar is a much-needed help for the box office in North America. The film industry is still in recovery mode after the pandemic, and fewer premieres have been released over the past few years, leading to lower ticket sales.
According to Shawn Robbins, chief analyst at Shawn Robbins, the beginning of December is a historically slow period between Thanksgiving and Christmas, with very few high-profile premieres BoxOffice.com . This year’s line-up during this time was certainly a bit sparse before Beyonce made her claims. There is no doubt that the fact that his fans will come out to support his music and his work on the big screen will partially fill this gap and continue to change the industry’s approach to the rare but random dead zones of the calendar when Hollywood studios do not release blockbusters.
At the moment, the major premieres in the month of December are dominated by three Warner Bros.
Titles: Wonka will be in theaters on December 15, followed by “Aquaman and the Lost Kingdom” on December 20 and “The Color Purple” for Christmas.
These offers give Beyonce’s film enough space to be shown at the box office.
According to Paul Dergarabedian, senior media analyst at Comscore, cultural influence, brand improvement and, of course, revenue potential are undoubtedly a motivating factor when deciding to choose a theatrical release instead of streaming.
It is unclear what the premiere of Beyonce’s film may result in in December, as tickets went on sale on Monday. Industry observers expect Swift’s concert film, which will premiere in theaters on October 13, to generate at least $100 million in ticket sales.
By the end of Swift’s international tour next year, music analysts predict that the star’s era tour will bring in between a billion and $1.4 billion in revenue. Beyonce’s tour seems to have exceeded $560 million.
What is there for AMC?
The Beyonce and Swift releases are also part of AMC’s new revenue strategy. The cinema chain, avoiding the traditional model of a premiere in the studio, will cover the distribution costs and will participate in ticket sales.
AMC, in particular, needs such revenue, as the company continues to spend more on licensing films and renting premises than it earns on ticket sales and benefits. In fact, the company recently recorded a profit in the second quarter of this year, netting just $8.6 million.
According to Robbins, this is another sensible step on the part of creators and exhibitors, which strengthens the results of cinemas at the end of the year and at the same time opens up more unexplored potential for screenings of specialized events.
AMC and other movie theater chains will also benefit from high preferential sales, as viewers will gorge on popcorn and soft drinks for these concert films. AMC is already selling a collector’s pack of Taylor Swift popcorn for $14.99 and glasses for $11.99. There is no doubt that Beyonce-themed items will be presented soon.
Cinemas have been hosting live or recorded concerts for over a year and started talking about alternative content opportunities two years ago, but the scale of Taylor Swift and Beyonce is certainly drawing more attention to this strategy, said Alicia Reese, an analyst at Wedbush. It will be difficult to find other bands of this scale, but next summer many artists will go on tour, and cinemas will probably get closer to schedule concert films to fill in any gaps in the list of releases for the summer of 2024.
These gaps are caused by production delays related to two strikes in Hollywood. At the box office, several games have been released by the release dates of 2024, and it is still unclear where the currently planned games will end when the dust settles.