Folklore is one way of putting it.
The story one day of Taylor Swift as a moneymaker, forget musical artists, will be legendary.
When Swift’s “Eras” tour movie was announced yesterday. her fans went crazy. AMC Theaters sold $26 million worth of tickets in one day pre-sales. Exhibitor Relations is predicting a $100 million opening weekend beginning October 13th.
For AMC, this is a remarkable turn of events. Their stock has risen 3.5% so far today, up $2 a share. And the day isn’t over! Look here for updates this afternoon.
Other studios are now moving their films off the October 13th weekend because they can see the Swift tsunami coming fast.
How AMC pulled off this coup is the real story. They got Swift’s people to bypass a studio distribution and just do it themselves. AMC theaters will be flooded with young people for days on end, buying popcorn and soda, and maybe checking out other movies, too.