Beyoncé’s ‘Renaissance: A Film’ Announcement Boosts AMC Stock
Beyoncé Knowles-Carter and AMC Entertainment Holdings announced Renaissance: A Film by Beyoncé will hit the big screen on Dec. 1, and shares in the American movie theater chain increased by 1.5%.
The Renaissance singer has impacted the cinema chain in a big way ahead of the film’s release. Forbes reported that shares increased during premarket trading on Oct. 2, shortly after the entertainment holdings company said that it would distribute Beyoncé’s concert film.
The cinema chain has a net worth or market cap of $1.65 billion as of Oct. 4, according to data aggregated by Stock Analysis. The site, which provides free online stock information for investors, also shared that the company’s market cap decreased from $1.80 billion to $1.65 billion. The overall decrease of -7.92% in net worth is from Dec. 18, 2013 to Oct. 4, 2023. The site also showed AMC Entertainment Holdings has a compound annual growth rate of -0.84%.
The chief executive officer of AMC, Adam Aron, said on Twitter/X, “RENAISSANCE: A FILM BY BEYONCÉ will also play at most other U.S., Canadian and Mexican movie theatre chains starting Nov 30/Dec 1 as well, including Cinemark, Regal, Cineplex, Cinepolis and so many others.”
He added, “The release date for other international screenings throughout the world will be announced later in October. This is such exciting news for AMC and for the world’s entire movie theatre industry.”
RENAISSANCE: A FILM BY BEYONCÉ will also play at most other U.S., Canadian and Mexican movie theatre chains starting Nov 30/Dec 1 as well, including Cinemark, Regal, Cineplex, Cinepolis and so many others.
The release date for other international screenings throughout the world… pic.twitter.com/RQgAT0ViRX
— Adam Aron (@CEOAdam) October 2, 2023
The “Alien Superstar” singer made it known to fans about the concert film during her final tour stop in Kansas City, MO on Monday. Advance tickets are already available on AMC Theatre’s website. Prices begin at $22.
The film is set to be released in the U.S., Canada, and Mexico, Forbes reported. The outlet noted that movie showings will take place toward the end of the week on Thursdays, Fridays, Saturdays, and Sundays.
The star’s tour will have brought in at least $4.5 billion for the American economy, according to The New York Times.
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