Musician Usher is the latest musician to be featured in a movie theater event from AMC Entertainment Holdings (NYSE:AMC), following concert films from Taylor Swift and Beyonce Knowles and a listening event featuring Billie Eilish.
What Happened: The concert film from Usher titled "Usher: Rendezvous In Paris," comes to theaters less than a year after the musician was the featured halftime performer at Super Bowl LVIII.
The new movie was filmed during eight concerts in Paris in 2023 and will hit theaters starting Sept. 12 with a current plan to be in theaters through Sept. 15. Tickets for the theatrical experience go on sale beginning Aug. 6.
AMC partnered with Trafalgar Releasing and Sony Music Vision, a unit of Sony Group Corp (NYSE:SONY) on the new concert film.
The film is currently set to screen in over 2,000 movie theaters around the world, including around 1,000 theaters in the U.S. The film will play at AMC and ODEON locations owned by AMC and other locations around the world.
"Paris was a special experience for me as an entertainer and for my fans," Usher said. "I hope those who weren't able to make it in person get to experience how special it was."
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Why It's Important: AMC may have added another annual revenue driver with its concert films segment that got a huge boost from the record-breaking Swift concert film.
The company also released a concert film from Beyonce and added a special listening event for an upcoming Eilish album. The company has said it plans on doing several events like this annually and had been in talks with several top musicians when discussing the new segment.
"For 30 years Usher has captivated and entertained audiences through his music and concerts. Just a few months ago, he drew rave reviews for his stunning performance in front of 129 million people during the Super Bowl Halftime Show," AMC CEO Adam Aron said. "Bringing his unparalleled concert experience to movie theaters for his fans around the world is a perfect fit for AMC Theatres Distribution."
The news from AMC comes after the company said it had a strong performance from "Deadpool & Wolverine" in theaters. Aron previously said that the movie slate improves in the second half of 2024 and in future years.
Adding in the Usher concert film could help add to the already potential stronger back half of 2024 for box office revenue for AMC.
AMC Price Action: AMC shares trade at $5.30 on Wednesday, versus a 52-week trading range of $2.38 to $48.18. AMC stock is down 13% year-to-date in 2024 and down over 80% in the last year.
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