Taylor Swift, the singing sensation, is expanding her influence to Hollywood. She has broken records with global presales of $100 million for her concert film, Taylor Swift: The Eras Tour, which she distributed through AMC Theaters instead of partnering with major Hollywood studios. In negotiations that lasted several weeks, Swift’s parents, Scott and Andrea Swift, dealt directly with AMC CEO Adam Aron to avoid studio demands for a large percentage of box office earnings. Analysts estimate that the movie will gross over $100 million in its opening weekend on October 13. This direct distribution deal appears to have been a wise financial decision for Swift, surpassing the debut weekend earnings of this year’s highest-grossing film Barbie, which earned $162 million. Additionally, rumors are swirling about Swift’s relationship with Kansas City Chiefs football player Travis Kelce, generating more buzz around the multi-talented artist.
The highly anticipated movie, “Taylor Swift: The Eras Tour,” is set to hit theaters on October 13th thanks to a special deal made between Taylor and her family with AMC Theaters. This deal was made after Hollywood studios offered a significant distribution deal which was ultimately rejected.
Swift’s new movie is already a massive success, with $100 million in presales and projected opening weekend earnings that could surpass Barbie’s $162 million. However, the deal with AMC has angered Hollywood executives who fear it will change the way movies are distributed. In a sign of the turmoil caused by this move, the upcoming Exorcist movie has had to change its release date due to a conflict with Swift’s film.
Despite this controversy, Swift’s Eras Tour has been a huge success, generating an estimated $5 billion in consumer spending and breaking ticket sales records. Directed by Sam Wrench, her new movie was filmed across three shows at the SoFi Stadium in August. Swift’s family chose to bypass Hollywood studios and work directly with theaters through the AMC deal, which allows her to distribute the film on her own terms. The split of revenue is 43% for theaters and 57% between Swift and AMC, but the exact amount that Swift will receive is unknown. However, with the high presale figures, she is expected to make tens of millions of dollars at least.
The parents of Taylor Swift, namely Scott and Andrea Swift, had a series of confidential discussions with AMC CEO Adam Aron for few weeks to finalize certain conditions.
Swift’s Eras Tour is making waves worldwide since it started in March, with its 146 shows scheduled until November 2024 drawing record-breaking ticket sales. The tour’s success is even said to have contributed to the global economy’s post-Covid recovery.
A deal was struck between Swift’s parents and Aron which entailed theaters receiving 43% of the gross earnings, while the remaining 57% would be divided between Swift and AMC. As part of their distribution plan, AMC has enlisted the services of Variance Films, an independent sub-distributor, to display the film across other theater chains such as Regal and Cinemark. Among the year’s most successful films, Barbie currently sits at the top with a global revenue of $1.43 billion and $633 million in the US, while Oppenheimer, with a worldwide gross of $934 million, is ranked third behind Swift’s Eras Tour movie. Theaters screening the film are obligated to show it for a minimum of four weeks, with a maximum of 26 weeks. Although the streaming rights to the movie have not yet been sold, Swift’s deal permits its appearance on streaming platforms 13 weeks after its release in cinemas.
The online world was abuzz when Taylor Swift was seen at Arrowhead Stadium, accompanied by Kelce’s mother, Donna, during the first half of a Chicago Bears vs. Kansas City Chiefs NFL football game on September 24.
Other producers are facing headaches after striking a deal with AMC that is outside the Hollywood norm. One such issue arose when the release date for a horror movie, The Exorcist: Believer, was scheduled for the same day as Taylor Swift’s documentary, which led to the horror movie’s producers rescheduling their launch for an earlier date. Fans had originally dubbed the day of the dual release as “Exorswift,” but the change stirred up excitement about a potential Barbenheimer style release. Ticket prices for Swift’s Eras Tour movie coincide with her birth year and fifth album name, priced at $19.89 for adults.