by BLACK ENTERPRISE Editors
May 29, 2024
Adam Aron, the CEO of AMC Theatres, has admitted to inadvertently leaking sensitive information about Beyoncé’s Renaissance concert film. According to reports obtained by The Source, these leaks almost jeopardized the film’s success. The admission follows the successful and secretive release of Taylor Swift’s Eras concert film.
AMC managed to keep Swift’s concert a secret, and Aron emphasized that maintaining confidentiality is crucial for a film’s success. The theater chain plans to release “two to three concert films annually.”
“We couldn’t blow Taylor’s secret,” Aron said, describing the confidentiality as a strategic move. And despite complaints from some theater chains, Aron says, “They grossed $100 million in ticket sales. It’s not like they sold diddly.”
However, when it came to Beyoncé’s Renaissance film, secrecy was not maintained as effectively. Aron revealed that AMC gave several competitors an early “heads up” about Beyoncé’s film to avoid the tension caused by the surprise release of Swift’s film. Despite these precautions, Aron admitted, “At least half a dozen movie circuits leaked the news. Beyoncé was seriously considering not proceeding with the movie because the secret was blown. So, they didn’t keep their word.”
Aron acknowledged that the leak caused significant frustration between the AMC team and Beyoncé, potentially jeopardizing the film’s success. The success of Swift’s Eras concert film, which achieved considerable ticket sales, underscored the importance of a secretive approach. To support its ambitious release schedule, AMC has assembled a distribution team to gain exclusive advanced knowledge of concert films like those of Swift and Beyoncé, allowing AMC to sell tickets before its competitors.
Released in December 2023, Renaissance grossed nearly $44 million worldwide, with 77% of the revenue coming from domestic box office dollars. Eras’ gross revenue made Renaissance’s pale in comparison. Swift’s film raked in an impressive $261,656,269.
Aron’s move seemingly helped make Swift’s concert film more profitable. He also credited the “Shake it Off” artist’s film and Beyoncé’s project with saving the long-running movie theater conglomerate from financial ruin in February.
AMC’s move into film distribution represents a “bold expansion of its business model,” but it has also increased tension with traditional Hollywood partners, who feel that AMC is encroaching on their territory.
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