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AMC could have a future as a distributor of concert films following the strong performance of Taylor Swift's Eras Tour film over the weekend.

Why it matters: AMC has teetered on the bankruptcy precipice all year, and the film's performance gives the theater chain a much-needed cash infusion.

Driving the news: "Taylor Swift: The Eras Tour" grossed between $95 million-$97 million at the box office and was the highest-grossing concert film in North America for an opening weekend on record, Axios' Rebecca Falconer writes.

It's also the most any concert movie has made in its entire run in the past 50 years.

"Woodstock" (1970) currently holds the record with "an inflation-adjusted box office gross of more than $270 million," the Los Angeles Times notes.

The Eras Tour movie is also closing in on the October launch record of "Joker," which earned $96.2 million in October of 2019.

The big picture: AMC acted as both an exhibitor and a distributor of the film, which allowed it to earn significantly more money than with a traditional release.

Swift's team reportedly was unenthused about traditional studios' plans to distribute the film, with some wanting to release it in 2025 — a full year after the tour is over.

The deal, per Puck News, is that the theaters get 43% of the box office, with Swift and AMC splitting the other 57%. For comparison's sake, Disney sometimes takes as much as 70% of the gross.

Be smart: Despite some strong box office numbers this year, especially the "Barbenheimer" phenomenon, AMC has frequently warned of a liquidity crunch and the need to raise additional money.

AMC temporarily eased some fears by raising $325 million in September after it issued 40 million new shares.

AMC racked up a ton of debt trying to survive the pandemic — it had $4.8 billion in long-term debt at the end of Q2, Axios Closer's Nathan Bomey writes.

The bonds that are in line to get paid back first if AMC files for bankruptcy are trading at just 69 cents on the dollar, though that's up from 51 at the start of the year, according to MarketAxess' BondTicker.

What's next: Swift wasn't a once-off for AMC. The theater chain is also distributing Beyoncé's upcoming film version of her Renaissance tour in December.

Taylor Swift's film success to boost AMC Theatres

AMC has teetered on the bankruptcy precipice all year.

Taylor Swift attends "Taylor Swift: The Eras Tour" Concert Movie World Premiere at AMC The Grove 14 on October 11, 2023 in Los Angeles, California.

Taylor Swift at AMC The Grove 14 in Los Angeles, California. Photo: Matt Winkelmeyer/Getty Images

Taylor Swift

AMC could have a future as a distributor of concert films following the strong performance of Taylor Swift&#x27;s Eras Tour film over the weekend.Why it matters: AMC has teetered on the bankruptcy precipice <a class="gtmContentClick" data-vars-link-text="all year" data-vars-click-url="https://www.axios.com/pro/media-deals/2023/07/26/amc-warns-of-bankruptcy-amid-barbenheimer-success" data-vars-content-id="8568b975-ce71-4df0-b27b-3e6ed23f10c7" data-vars-headline="Taylor Swift&#x27;s film success to boost AMC Theatres" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/pro/media-deals/2023/07/26/amc-warns-of-bankruptcy-amid-barbenheimer-success" target="_self">all year</a>, and the film&#x27;s performance gives the theater chain a much-needed cash infusion.

Taylor Swift's film success to boost AMC Theatres

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