A film based on U.S. pop star Beyonce's hit "Renaissance World Tour" is set to be distributed globally by a unit of AMC Entertainment (AMC.N), the company said, as cinema chains look to fill content gaps stemming from Hollywood strikes.
AMC shares rose as much as 4.8% to $8.37 before paring gains to $8.
Beyonce's film is a theatrical production of the singer-songwriter's global tour this summer, spanning 57 concerts across 40 cities in North America and 14 across Europe.
The film follows a similar release by pop superstar Taylor Swift, whose "Eras Tour" concert film will be distributed in cinemas in North America starting Oct. 13.
The concert films provide cinema chains such as AMC, Cinemark (CNK.N) and Cineplex (CGX.TO), with high-profile titles to help fill gaps caused by a prolonged strike by actors and writers in Hollywood.
"Renaissance: A Film By Beyonce" is set to play in the United States, Canada, and Mexico beginning Friday, Dec. 1, 2023, AMC said, adding that additional global cities would be announced at a later date.
Shares of Cinemark (CNK.N) firmed 1% as the AMC rival announced that it will play the concert film in its U.S. theaters. Both cinema chains said their standard showtime tickets in the U.S. will start at $22.
Entertainment website Variety first reported Beyonce's talks to release "Renaissance" through AMC.
