AMC clinches deal to show Beyoncé's 'Renaissance World Tour' concert film

By James Rogers

'This is such exciting news for AMC and for the world's entire movie theatre industry,' said AMC CEO Adam Aron

Movie theater chain and meme stock darling AMC Entertainment Holdings Inc. will show the concert film of Beyoncé's "Renaissance World Tour," the company has announced.

Beyoncé's production and management company Parkwood Entertainment and AMC (AMC) announced that "Renaissance: A Film by Beyoncé" will hit the AMC theaters in the U.S., Canada, and Mexico on Dec. 1.

Related: Marcus Theatres' stock rises as Beyoncé concert film set for release

"Parkwood Entertainment announced Sunday night that AMC Theatres Distribution will lead the effort in enabling RENAISSANCE: A FILM BY BEYONCÉ to take over movie theatres worldwide," tweeted AMC CEO Adam Aron Monday.

"This is such exciting news for AMC and for the world's entire movie theatre industry," he added.

Related: Cinemark launches Private Swiftie Parties to watch Taylor Swift's New Eras concert film

On Saturday, Variety had reported that AMC is in advanced talks to distribute Beyoncé's concert film directly through its theaters. After initially rising, AMC's stock fell 0.8% Monday.

On Monday Marcus Corp.'s (MCS) Marcus Theatres also announced that it will show the concert film of Beyoncé's "Renaissance World Tour."

Related: Sphere Entertainment's stock climbs after Sphere venue opens with stunning U2 concert

Major concert films are in the spotlight, boosted by high-profile tours from Beyoncé and Taylor Swift, whose "Taylor Swift The Eras Tour" film hits theaters Oct. 13. AMC recently announced that the film had shattered the company's record for single-day advance ticket sales, with $26 million in ticket revenue sold on Aug. 31. AMC rival Cinemark Holdings Inc. (CNK) is offering Private Swiftie Parties, where fans can hire a private auditorium to watch "Taylor Swift The Eras Tour."

-James Rogers

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10-02-23 1138ET

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