The Movie Theater Industry Is Changing — Again

By: Anneken Tappe · February 29, 2024 · Reading Time: 2 minutes

People go to the movies less than they did in previous decades. This has been the refrain of movie theater chains for years now, and the pandemic made matters worse. However, there’s a light at the end of the tunnel it seems, and it’s both bright pink and sparkly.

AMC (AMC) is the largest movie theater chain in the world, and thus a bellwether for the entire movie industry. And it has been off to a rough start in 2024. Year-to-date box office revenue at the chain year-to-date is down 18% year-over-year. But there’s a silver lining: Pop culture moments are still driving people to the movies.

Playing to Strengths

Yes, this is about the women who drove the economy last year. Barbie, Beyoncé, and Taylor Swift made people go to the movies more.

AMC was the sole domestic distributor of Taylor Swift: The Eras Tour, which became the highest-grossing concert film of all time, raking in more than $180 million in the U.S. alone. This surprise success story showed the company superhero franchises aren’t the only way to fill seats — and it’s a model the chain intends to replicate.

Looking for more stories like this? Check out On the Money —SoFi’s one-stop-shop for news, trends, and tips!

Check it out

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Advisor
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.

TLS 1.2 Encrypted
Equal Housing Lender