AMC stock extends winning streak to 5 days, boosted by Taylor Swift concert movie

The movie has been breaking records ahead of its scheduled release Friday, prompting more showings to be added. On Wednesday, Swift tweeted that early-access showings of “Taylor Swift: The Eras Tour” would open Thursday, citing “unprecedented demand” for the movie.

Related: ‘Taylor Swift: The Eras Tour’ movie set to break more records, boding well for AMC and Cinemark

The Hollywood Reporter reported that the movie version of Swift’s blockbuster concert tour is set for a global opening of $150 million to $200 million, which would be a record for a concert film. The movie had its premiere in Los Angeles on Wednesday.

Readership data from news publisher technology company Taboola.com Ltd.
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also suggests that “Taylor Swift: The Eras Tour” is even more eagerly anticipated than recent summer blockbusters “Barbie” and “Oppenheimer.” In the seven days before its premiere, news coverage about the Taylor Swift concert movie was viewed more than 9 million times, according to Taboola, around 30% more page views than “Barbie” and “Oppenheimer” had leading up to their premieres.

In addition to showing “Taylor Swift: The Eras Tour” in its own cinemas, movie-theater chain and meme-stock darling AMC is also the theatrical distributor for the movie. AMC recently announced that the film had shattered the company’s record for single-day advance ticket sales, with $26 million in ticket-sales revenue on Aug. 31.

Related: Is Taylor Swift milking more money from fans by moving ‘Eras Tour’ film’s opening date?

Cinemark Holdings Inc.
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is also set to get a boost from “Taylor Swift: The Eras Tour” after clinching a deal with AMC to show the movie. The movie-theater chain is also offering Private Swiftie Parties, where fans can hire a private auditorium to see it. Shares of Cinemark ended Thursday’s session down 2.7%.