Not only do they earn billions of dollars thanks to their tours, two famous American female singers, Taylor Swift and Beyoncé, continue to make huge profits by turning their tours into theatrical films. .
Taylor Swift and Beyoncé will turn their tour into a theatrical film
According to research company AskPro, the two tours of Taylor Swift and Beyoncé have brought huge profits to the US economy. Specifically, Beyoncé’s Renaissance tour generated about $4.5 billion, while Taylor Swift’s shows generated more than $5 billion in consumer spending in the US alone.
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Following the success of the two tours, female artists “relentlessly rushed forward” by investing more in the film industry. According to Mr. Paul Dergarabedian, senior media analyst at Comscore, female artists have realized the power of the big screen and have also found ways to create their own reputation and revenue.
In August 2023, Taylor Swift announced that the movie about Eras Tour would be officially released on October 13 of this year. In just the first 24 hours after opening for sale, Swift’s film earned 26 million USD in ticket revenue, beating the record of 16.9 million USD set by Marvel’s blockbuster “Spider-Man: No Way Home”. .
After Swift, Beyoncé also announced that the film about the Renaissance tour will be premiered on December 1, receiving a huge response from a large number of fans around the world.
“Not every artist can do this. Taylor Swift is the one who ignited the ‘fire’, and if we talk about someone with a strong fan base around the world, we cannot ignore Beyoncé,” said Mr. Paul Dergarabedian.
Puck magazine reporter Matthew Belloni reported that Taylor Swift is personally financing the production of the movie “Taylor Swift: The Eras Tour” and will release it directly in theaters without going through any intermediaries. any.
The only unit she cooperates with is American distributor AMC Entertainment Holdings, the world’s largest movie theater chain. Therefore, if the film achieves great revenue, the female singer will not lose production and distribution costs but most of the profits will belong to her.
Based on calculations by American media channels, it is expected that movie theaters will receive 43% of total ticket sales, 57% will go to Swift and AMC.
With the potential to earn at least 100 million USD on the first day of release, Swift and AMC will “split” 57 million USD. In case they split in half, Swift will “take home” nearly 30 million USD in just 1 day, not to mention the possibility that Swift will receive a larger share in this deal.
In particular, for famous figures with several million followers on Instagram like Taylor Swift and Beyoncé, they do not need to spend money on outside expenses such as marketing and advertising for their products. “The number 1 marketing tool they own is themselves,” said Shawn Robbins, chief analyst at Box Office Pro.
As for Beyoncé, details about her arrangements have yet to be revealed. However, according to many people’s guesses, the contract she is negotiating has the same value as Swift’s, because the unit she cooperates with is also AMC.
Later, Beyoncé and Swift will make even more money when they make their movies available on video-on-demand platforms and sell these movies to streaming units. That money will probably go “straight into their pockets”.
In the past, both Swift and Beyoncé have sold concert films to Netflix. Also thanks to this “giant” in the streaming service industry, Swift’s “Reputation” in 2018 and Beyoncé’s “Homecoming” in 2019 were widely promoted and brought huge revenue to the two female artists.
Not “leading” but “breaking through”
Concert-themed movies are no longer new to audiences. Originating from the time of the Woodstock Festival in the 1970s, music has become an integral part of daily life, entertainment and cinema.
In 2009, Michael Jackson’s “This Is It” earned $262.5 million in global revenue, and “Justin Bieber: Never Say Never” brought in $99 million in profits for the singer and his partners last year. 2011, media measurement and analysis company Comscore statistics.
Swift and Beyoncé are said to be names that will break records. “These weren’t the first concert films to hit theaters, but the way they released them and the audience they had was groundbreaking,” Mr. Robbins said.
The film Eras was announced to be released on more than 4,000 theaters in North America, Beyoncé’s Renaissance also has a similar scale. These two products will reap a lot of success because many fans of the two female singers had to skip live performances because ticket prices were too high or they couldn’t find tickets in time.
With current development momentum, Taylor Swift and Beyoncé are expected to soon join the ranks of “the world’s best businessmen” alongside billionaires Oprah Winfrey, Tyler Perry, Kim Kardashian and George Clooney.