Movie theater chains rise ahead of Beyonce's concert film release

Cinemark Holdings

02/10/2023 15:07

** Shares of movie theater chains rise, with AMC
Entertainment up 4.8% at $8.38 and Cinemark Holdings up 1.3% at
$18.59 
    ** Canadian cinema chain Cineplex  CGX.TO  edges up 0.6% at
C$9.53
    ** "It's a clear positive to have big draws to the theater
this holiday season from Taylor Swift in November and Beyonce in
December, in addition to the holiday movie release slate,"
Wedbush Securities analyst Alicia Reese says
    ** A film based on U.S. pop star Beyonce's hit "Renaissance
World Tour" is set to be distributed globally by a unit of AMC
    ** "Renaissance: A Film By Beyonce" is set to play in the
United States, Canada, and Mexico beginning Friday, Dec. 1, 2023
- AMC
    ** Similarly, "Taylor Swift: The Eras Tour" will play in
cinemas in North America starting Oct. 13 - Taylor Swift had
posted on X
    ** Beyonce's film is a theatrical production of the
singer-songwriter's global tour this summer, spanning 57
concerts across 40 cities in North America and 14 across Europe
    ** Up to last close, AMC was down ~78%, CNK more than
doubled while CGX up ~18% YTD  

 (Reporting by Jaspreet Singh in Bengaluru)
 ((Jaspreet.Singh@thomsonreuters.com ; https://twitter.com/i_jass))