AMC shares fell 3% despite record box office results from Taylor Swift’s album release film “The Life of a Showgirl,” which earned $50M globally. The event became the top-grossing album-debut cinema release in history.
00:00It's Benzinga, bringing Wall Street to Main Street.
00:02AMC's share slipped on Tuesday after the company reported strong box office results for Taylor Swift's album release party event, according to Benzinga.
00:09Swift's self-directed film generated over $34 million in domestic ticket sales and more than $50 million globally during its opening weekend.
00:16The event launched alongside Swift's 12th studio album, The Life of a Showgirl, became the highest-grossing album debut cinema event ever
00:22and the only non-film theatrical release this century to top the weekend box office.
00:27CEO Adam Iran called the event a triumph that offered fans an intimate look at Swift's creative process.
00:33AMC's shares fell 3.1% to $2.81 on Tuesday afternoon, according to Benzinga Pro.
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