In her latest endeavor, Taylor Swift is set to make a significant impact on the struggling movie box office industry, which has been affected by the ongoing pandemic and Hollywood labor strikes. On October 13, the release of Taylor Swift: The Eras Tour in US cinemas will act as a high-profile test to determine if concert films can draw audiences and provide a sense of stability to an industry that is heavily reliant on theatrical releases.
According to box office analysts and studio executives, Swift’s film has the potential to generate $120 million (€113 million) during its opening weekend, rejuvenating ticket sales for cinema chains like AMC Theatres and Cineworld.
However, the influence of Taylor Swift, as well as a concert film featuring pop superstar Beyonce, may not be sufficient to compensate for the setbacks caused by the Hollywood labor strikes.
These labor disputes have interrupted the revival of the movie industry, halting the momentum gained from successful summer releases like Spider-Man: Across the Spider-Verse, Barbie, and Oppenheimer. According to research firm Comscore, the holiday season, which accounts for approximately one-quarter of the industry’s annual box office revenue, is at risk.
“While Swift and Beyonce will certainly help fill some of the gaps,” explains Box Office Pro senior analyst Shawn Robbins, “it is unlikely that their films alone can completely compensate for the revenue loss of highly-anticipated titles such as Dune: Part 2, Kraven the Hunter, and the next Ghostbusters.”
All three of these anticipated films have been rescheduled to 2024 due to the actors’ inability to promote their movies while the Sag-Aftra actors union remains on strike.
After the postponement of these releases, theater owners have been scrambling to fill their screens with what is known as “alternative content,” including concert films from Swift and Beyonce’s Renaissance tour.
Advance ticket sales for Taylor Swift: The Eras Tour have been comparable to those of Star Wars or Marvel blockbusters. Box office analysts predict that the documentary will earn between $150 million and $225 million during its theatrical run in the US and Canada. Furthermore, the release of Renaissance: A Film by Beyonce in December is expected to generate $75 million in ticket sales.
“We have been discussing alternative programming for a long time,” states Rolando Rodriguez, chairman of the National Association of Theatre Owners. He acknowledges that theater owners have previously showcased forms of entertainment such as opera, but the release of Taylor Swift: The Eras Tour has taken it to a whole new level. The upcoming concert film from Beyonce will further elevate the concept of alternative content.”
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