• "Taylor Swift: The Eras Tour" broke a concert-film box-office record on its opening weekend.

• The movie pulled in $95 million to $97 million worth of ticket sales, AMC Theatres said.

• Swift’s tour has given the US economy a big boost in 2023, with even the Federal Reserve noticing its impact.

Taylor Swift continued to give the US economy a much-needed boost, with the singer's new movie setting a new box-office record.

"Taylor Swift: The Eras Tour" earned between $95 million and $97 million in US and Canadian ticket sales, AMC Theatres estimated, beating Justin Bieber's 2011 hit "Never Say Never", which grossed $73 million, for the best-ever performance by a concert film on its opening weekend.

"The Eras Tour" could also break records for the strongest October debut for any film. Its currently neck-and-neck with "Joker", which pulled in $96.2 million worth of ticket sales on its opening weekend back in 2019.

Viral videos shared on X have shown the boisterous atmosphere at screenings, with groups of fans crowding between the screen and seats in one theater to dance, sing, and fall to the floor at various points during Swift's performance.

The "Anti-Hero" singer's sellout live tour has been so popular that it's likely had a considerable impact on economic growth, grossing $2.2 billion and generated $4.6 billion worth of consumer spending, according to estimates by the research company QuestionPro.

In May, the Federal Reserve pointed out how much Swift's concerts had boosted Philadelphia hotel revenues in its monthly Beige Book – while "Eras", Beyoncé's "Renaissance" tour, and the "Barbenheimer" moviegoing craze likely contributed $8.5 billion to the US's third-quarter GDP, according to estimates from Bloomberg Economics.

Swift's record-breaking box-office debut failed to do much for AMC Entertainment's share price, though, with the theater chain sliding over 13% Friday and another 0.5% in Monday's premarket.

AMC has now slumped a staggering 74% year-to-date, cratering due to a lawsuit opposing its stock-conversion plan and the Hollywood writers' strike, which has already delayed the release of potential blockbusters like "Dune: Part Two" until 2024.

Read the original article on Business Insider