AMC Entertainmentposted strong fourth quarter numbers buoyed by Taylor Swift and Beyonce Concert Films.
The giant theater chain saw revenue jump 11% to $1.1 billion, beating Wall Streets forecasts.
Ebitda triped to $45 millioun and net losses narrowed.
Taylor Swift on opening night of The Eras TourGetty
In the peak of summer, July 2023, it was up 6% to July of 2019.
Clearly, moviegoers flocked to theatres when Hollywood released films in quantity and of quality.
Just think BARBIE, OPPENHEIMER and TAYLOR SWIFT | THE ERAS TOUR among so many others.
But the strikes clearly interrupted that momentum.
The fourth quarter domestic industry-wide box office was down 35% versus pre-pandemic 2019.
The January/February 2024 domestic industry-wide box office was down about 45% versus the same months of pre-pandemic 2020.
We point this out, becauseimportantly we think the strike impacts will only be short-term in nature.
