Beyoncé is taking her Renaissance Tour to the big screen on December 1, while Taylor Swift is releasing a concert film of her Eras Tour next week. The movies are a major boost to theaters, which have suffered from COVID lockdowns and the Hollywood strikes.
Both tours helped raise the U.S. GDP in the third quarter of the year, and they could boost the fourth quarter too, says Alexandra Canal, Yahoo Finance’s senior entertainment and media reporter. As of last month, she points out, the Eras Tour is estimated to gross at least $65 million — and up to $100 million.
“It would truly set a new precedent when it comes to the different types of movies that people want to see,” Canal explains. “In this post-COVID environment, people want to have an experience at the movie theater. They want a more premium experience rather than just going to see any old movie. And certainly if you have Taylor Swift performing her songs with the big screen with the loud music, that is an experience that consumers are really seeking out right now.”
Canal, who was unable to attend either concert herself, says both films widen the net of accessibility for Taylor Swift and Beyoncé fans. It’s also filling in showtime gaps in light of movies such as Dune 2 that have been delayed.
“They have the opportunity to go to AMC, Cinemark locations, IMAX locations, and see these concerts on the big screen. And I think that's as close as you could possibly get without actually going to see these performers live,” Canal explains.
Plus, it’s way more affordable — $22 to see Beyonce in theaters and under $20 for Taylor Swift. “It's a little bit higher than your average movie theater price, as opposed to spending $500, $600, $800, even $1,000 in some cases.”
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