AMC shares jump after Taylor Swift concert film gross $100 million
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AMC Entertainment is feeling the effects of Taylor Swift’s massive fan following.

In Friday afternoon trading, shares of AMC (AMC) climbed 11.5% after the movie theater chain announced that “Taylor Swift: The Eras Tour” had grossed over $100 million in advance ticket sales.

Audience demand for the film has been strong from the moment it was announced, AMC said in a statement Thursday. Viewers choosing to watch the film in large-screen formats, such as IMAX, have been particularly enthusiastic.

The film generated early buzz on August 31 when Swift announced it on Instagram to her nearly 275 million followers. ‘Taylor Swift: The Eras Tour’ opens on October 13 as the most profitable concert film in history. The concert tour is expected to sell more than $2 billion in North American tickets following the release of the three-hour film.

Ticket sales for “Taylor Swift: The Eras Tour” exceeded $26 million on the first day, breaking an AMC record.

Over 8,500 theaters across 100 countries will screen the film through AMC Theaters Distribution and sub-distribution partners Variance Films, Trafalgar Releasing, Cinepolis and Cineplex. There will be 4,000 theaters in the United States out of those 6,000.

AMC isn’t the only company benefiting from Swift’s massive fanbase. On Friday, shares of Cinemark Holdings, which operates about 500 theaters, rose over 5%. According to a news release, ticket sales for Eras Tour were setting domestic presale records.