AMC rises after announcing that its Taylor Swift viewing parties were “a record-setting, box office smash hit”
AMC is up in premarket trading after the theater company said that its “cinematic experience” for the release of Taylor Swift’s “The Life of a Showgirl” grossed more than $50 million, with $34 million of that in the US.
The company’s press release from after the close on Monday highlighted three records the release party broke in its three-day run:
“TAYLOR SWIFT | THE OFFICIAL RELEASE PARTY OF A SHOWGIRL is the biggest grossing album-debut theatrical event of all time at the domestic and global box office.”
“It is the only album-debut cinematic experience in history to finish No. 1 at the domestic box office.”
“It is the only ‘non-film’ theatrical event this century to finish a weekend No. 1 at the domestic box office.”
Shares of the company had jolted higher when this collaboration was initially unveiled on September 19.
“On behalf of AMC Theatres and the entire theatrical exhibition industry, I extend our sincerest appreciation to the iconic Taylor Swift for bringing her brilliance and magic to movie theatres this weekend,” AMC Chairman and CEO Adam Aron said. “Her vision to add a cinematic element to her incredible album debut was nothing less than a triumph.”
(I’m a card-carrying Swiftie, but I have to say this album was very meh, almost like she’d promised Travis Kelce his own version of “Lover” because Joe Alwyn got one.)
