Shares of CTS Eventim AG surged on Thursday after the German live-events company said earnings would be driven higher by strong advance ticket sales for Swift’s The Eras tour. A few hours later, AMC Entertainment Holdings Inc. said it sold more than $100 million in advance tickets for the movie of the concert, sending the shares up as much as 5.7% on Friday.“Audience demand for Taylor Swift The Eras Tour concert film has been incredible from the moment it was first announced,” according to AMC.
Bloomberg Economics expects fans of Swift — known as Swifties — and fellow superstar musician Beyoncé to have added $5.4 billion to US gross domestic product in the third quarter as they spend on concerts. The typical Swiftie spends $1,500 to attend a performance, including costs for tickets, hotels, flights and food.The Eras Tour concert film will start playing in most of the confirmed 8,500 theaters across 100 countries on Oct. 13.
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