These productions, created by the artists themselves, bypassed the conventional Hollywood studio model. And eliminated the intermediary costs and maximized profits for both AMC and the mega stars.
Bypassing traditional channels and engaging directly with AMC, Beyoncé and Taylor Swift revitalized the movie theater business. AMC was basically on life support sadly still grappling with the aftermath of the COVID-19 pandemic.
The impact of these collaborations on AMC’s financial performance was nothing short of remarkable. AMC’s revenue surged by 11.5 percent in the fourth quarter of 2023, with adjusted EBITDA nearly tripling.
Aron attributed this unprecedented growth directly to the screening of the Swift and Beyoncé concert movies, which accounted for a significant portion of the company’s quarterly earnings.
Superstar Entrepreneurs
According to AMC CEO Adam Aron, the decision to collaborate with Swift and Beyoncé stemmed from a bold initiative proposed by Swift’s father, Scott Swift.
The Swifts were disenchanted with the limitations posed by conventional studio negotiations. They came to the movie theatre company because seeking a more direct approach to bring Taylor’s concert film to audiences worldwide.
