AMC, buoyed by Taylor Swift and Beyoncé success, will show Usher's concert film

By James Rogers

AMC will screen 'Usher: Rendezvous in Paris' for a limited run in September

AMC Entertainment Holdings Inc. will again look to tap into customer appetite for concert films when the movie-theater chain shows "Usher: Rendezvous in Paris" in September.

The movie-theater chain rode the wave of the record-breaking concert films "Taylor Swift: The Eras Tour" and "Renaissance: A Film by Beyoncé" last year. AMC (AMC) also clinched distribution deals for the two movies, in addition to showing them in its own theaters.

On Tuesday, AMC announced that AMC Theatres Distribution and Trafalgar Releasing have partnered with Sony Music Vision to bring Usher's concert film to cinemas for a limited run Sept. 12-15.

Related: AMC and IMAX shares climb, boosted by huge 'Deadpool & Wolverine' opening weekend

"I am excited to announce AMC Theatres Distribution's next concert film - Usher: Rendezvous in Paris," AMC CEO Adam Aron wrote on X. "Yes, world class artist Usher! At AMC Theatres and Odeon Cinemas September 12, 13, 14 and 15."

AMC shares are up 0.9% Tuesday, compared with the S&P 500's SPX decline of 0.6%.

Usher headlined this year's Super Bowl and completed a Las Vegas residency last year that grossed more than $100 million, according to Billboard. The star's global "Usher: Past Present and Future" tour begins in Atlanta on Aug. 14.

Related: AMC's summer box office set to 'rebound notably,' says Wedbush

Aron has previously said that the success of Taylor Swift's and Beyoncé's movies could pave the way for other concert films at AMC. In January he expressed AMC's "eternal gratitude" to Taylor Swift after the singer-songwriter's concert film broke yet another record.

Last week, analyst firm Wedbush said that AMC is set to benefit from an improved summer box office.

The movie-theater chain and original meme stock gave second-quarter guidance on July 24, with AMC noting that the Hollywood actors and writers strikes had created lingering weakness. AMC gave its second-quarter guidance shortly after announcing a debt-restructuring deal.

Related: AMC's debt restructuring bodes well for box-office recovery, analyst says

AMC shares are down 14.8% in 2024, compared with the S&P 500 index's gain of 13.9%.

-James Rogers

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07-30-24 1712ET

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