Taylor Swift’s Concert Film can ‘rescue’ theatres amidst strikes slowing down production for coming year
Taylor Swift’s Concert Film titled Taylor Swift: The Eras Touris being called the last hope for the theatre industry in the coming year.
Taylor Swift: The Eras Tour could bring in $200 million, according to Tony Vinciguerra, chairman and CEO of Sony Pictures Entertainment.
He calls it a "massive, unexpected rescue" for movie theatres as Hollywood strikes have caused release dates to change and the production pipeline to slow down, dampening this year's robust box office recovery.
“The exhibitors are our friends there’s such a symbiosis between our business and the exhibitors,” he stated in a Q&A at the BoFA media conference.
“It is a very big concern that in… early to mid-2024 if we don’t end the strikes at some point, that there will not be a lot of films around.”
He also talked about the possible return of glory that may happen after the strikes end.
“Once we do end the strikes, which will happen obviously, there’s going to be a gold rush to get actors and producers and directors back in production,” he said.
He also revealed that there are several Sony films that just “need a little more work, and once they’re done, will be in theaters.”
Adding, “and I think other…studios have the same situation. So there will be a moment in time, like early second, third quarter this year where there were a lot of films in theaters, we will probably have that again.”
“But that’s not the terrible thing. The terrible thing is not having films in the theaters,” he concluded.