After just four weeks in theaters, Taylor Swift’s ‘Eras’ Tour concert film is taking its final bow at the box office this weekend. The singer’s cinematic concert experience has shattered records and provided a huge boost to theaters during a quiet release period in Hollywood.
Heading into its last weekend in cinemas, the ‘Eras’ Tour film has earned an incredible $150 million domestically and over $200 million globally. That worldwide total represents more than 18% of the $1.092 billion earned at the global box office since the film’s release on October 13th, per data from Comscore.
Analysts predict the film could add another $10 million in North America this weekend, potentially securing the number one spot at the box office yet again. Its domestic and worldwide grosses are now the highest ever for a concert film, surpassing prior records held by Beyonce’s ‘Homecoming’ documentary and ‘Michael Jackson’s This Is It.’
However, Swift’s tour movie still trails ‘This Is It’ slightly in terms of overall global box office, with that film earning $262.5 million worldwide back in 2009.
The ‘Eras’ Tour’s amazing box office run has been aided by expert timing and a unique distribution strategy. With many major studio films delayed by Hollywood strikes, Swift’s concert pic faced little competition through its month-long exclusive theatrical engagement.
“One movie can make all the difference,” said Paul Dergarabedian, senior media analyst at Comscore. “This incredible box office performance is made all the more impressive given the film’s truncated release pattern.”
Rather than partnering with a traditional studio, Swift distributed the movie via theater chain AMC. It played exclusively in AMC and Cinemark locations just four days a week, helping drive turnout among her devoted fan base.
“It’s been a remarkable, one-of-a-kind, record-breaking and influential run for the Eras Tour, not to mention a huge win for Taylor Swift and theater owners,” added Shawn Robbins, chief analyst at BoxOffice.com.
The film provided a timely boost to theaters struggling with a lack of major blockbusters. Its success also generated speculation about where it will land for streaming.
With the SAG-AFTRA strike still ongoing, Swift appears to be biding her time before negotiating with potential streaming partners. A massive bidding war is expected, as the concert film is highly coveted by services like Netflix, Apple and Disney.
Swift has partnered previously with those companies for releases like her ‘Reputation’ Netflix documentary and ‘Folklore’ concert film on Disney+.
The singer clearly leveraged the exclusivity of a limited theatrical release to drive anticipation and turnout from fans. Now, she’s well-positioned to demand huge money for the streaming rights.
Her box office triumphs come as Swift continues re-recording her first six albums to gain control of her master recordings. After dropping her new version of ‘Red’ in 2021, she recently released ‘Midnights’ and ‘1989 (Taylor’s Version)’ to much fanfare.
The ongoing re-recordings coincide with her ‘Eras’ world tour featuring hit songs from her entire career. The 85-date global trek is slated to resume in late February 2023 after taking a break for the holidays.
Having conquered the charts and now the box office, Swift has re-established herself as a live entertainer after years away from touring during the pandemic. She’s also flexing her business savvy by maximizing revenue from these ventures.
For theater owners, the ‘Eras’ Tour film provided a much-needed smash hit. Its success may encourage more musicians to consider exclusive theatrical runs for their concerts in the future.
Even after leaving theaters, the Taylor Swift concert experience will live on via streaming. Whichever platform lands the rights will benefit from her continued popularity and the glow of the film’s record-setting theatrical debut.
After an epic big-screen run, the ‘Eras’ Tour is ready to conquer living rooms next. Swift will likely make that landmark streaming deal once Hollywood’s labor unrest settles down.
