THE MOVIE version of Taylor Swift’s stadium tour instantly became one of highest-grossing concert films ever, opening with weekend sales that dwarfed those of pictures by Justin Bieber and the late Michael Jackson.
Taylor Swift: The Eras Tour delivered an estimated $96 million in ticket sales in US and Canadian theaters, according to market researcher Comscore, Inc. It was expected to pull in $105 million to $145 million, according to tracker Boxoffice Pro. The shortfall reflects the difficulty in predicting box office receipts for an unusual release like the Swift movie.
“Variables such as average ticket price, assessing how frontloaded Swift’s fan base would make the film’s presales, and whether or not any traditional marketing would bring out non-Swifties all weighed heavily on the wide range of possible outcomes,” said Shawn Robbins, chief analyst for Boxoffice Pro, in an e-mail. “Swift, her fans, and the theatrical exhibition industry should all be celebrating the results.”
No movie debut in October has ever exceeded $100 million domestically. Joker brought in $96.2 million in 2019.
Overall, domestic ticket sales for all of 2023 so far were running 26% ahead of last year, according to Comscore data, but nearly 17% below 2019’s pre-pandemic tally. Studios have released 16 fewer films in theaters this year compared to the same point in 2019.
The picture took in an additional $32 million internationally, Comscore estimated.
The concert is set to be shown in theaters in more countries including Brazil, South Korea, and Malaysia in November.
The turnout provided a welcome jolt to cinemas facing a lackluster autumn slate after a strike by Hollywood actors prompted studios to delay titles such as Dune: Part Two.
Together with Barbie, the hit film from Warner Bros. Discovery Inc., The Eras Tour is demonstrating the impact women can have at the box office — in terms of what appears on the screen and who’s in the seats. Barbie, made by Greta Gerwig, has become the highest-grossing movie ever directed by a woman.
The Eras Tour film delivered opening weekend sales that were higher than the debut of any prior concert picture. The previous record was held by Justin Bieber: Never Say Never. That 2011 movie, distributed by Paramount Pictures, brought in $29.5 million in its opening weekend. Mr. Jackson’s This Is It registered $23.2 million in 2009.
Mr. Jackson’s movie went on to gross $261 million globally during its entire run in theaters, while the Bieber film brought in $99 million.
Rather than distribute The Eras Tour movie through a studio, Ms. Swift struck a deal with AMC Entertainment Holdings, Inc., the largest theater operator. Other chains will get the picture through Variance Films, an independent distributor. Ms. Swift and AMC are expected to take home 57% of the box-office sales, according to the Puck website.
After Ms. Swift announced the movie in August, advance ticket sales at AMC set a single-day record. Originally slated to open Oct. 13, the release was moved up a day due to increased demand.
She promoted the film heavily, including surprise appearances by both Ms. Swift and her reputed boyfriend, NFL star Travis Kelce, on Saturday Night Live, and a cover story in the Sunday New York Times magazine this weekend.
Ms. Swift’s movie offered an opportunity for fans, known as Swifties, to catch the show they missed or relive the concert experience. Noor Jahan, 26, saw Ms. Swift live, but was happy to take her 13-year-old sister and 16-year-old cousin to the movie this week. The family wore matching heart-shaped sunglasses and cardigans and traded friendship bracelets with movie goers at a screening in New York.
“I was there for Taylor and singing the songs I grew up listening to, but now I can see the dancers and the production and details she puts in,” Ms. Jahan said. She said the movie experience was similar to the concert with fans screaming, singing, and dancing.
Her sister, Shamira, called the film “everything she wanted and more.”
Critics loved the picture as much as the Swifties, with the film getting a perfect score of 100 among movie critics on Rotten Tomatoes.
Swifties had the opportunity to spend on Eras Tour merchandise including cups, popcorn buckets, and tote bags.
Consumer spending by fans of Ms. Swift and fellow superstar Beyoncé added $5.4 billion to US gross domestic product in the third quarter, according to Bloomberg Economics. An average Swiftie spends upward of $1,500 to attend a live performance, including the cost of tickets, hotels, flights and food.
Beyoncé struck a similar distribution deal with AMC for her upcoming concert movie, Renaissance, which will hit theaters in December.
The National Association of Theatre Owners said a survey of 6,000 moviegoers found that 72% want to see more concert films in cinemas. — Bloomberg/Reuters
