A film based on Beyoncé’s smash hit “Renaissance World Tour” is in advanced talks for direct distribution to AMC Theaters, sources with knowledge of the project told Variety.
Mega agency CAA held preliminary talks with major studios and streamers two weeks ago, another source added, urging players to be ready to bid on a project the icon has been working on for years – one that has elements of their most successful year of 2023 would include live shows, elements of the long-running visual album “Renaissance” and a documentary account of the making of the album and the setup of the tour (cameo appearances from Blue Ivy Carter are sure to follow). Industry observers expect the Renaissance World Tour to bring in nearly $560 million in ticket sales by the end.
A spokesperson for AMC Theaters did not respond to multiple requests for comment. CAA did not comment on this. A spokesperson for Beyoncé could not be reached for comment.
The Beyoncé deal follows a deal brokered by Taylor Swift for a straightforward concert film based on her well-attended Eras tour. The terms are reportedly incredibly favorable for Swift, as Swift self-financed the project and will receive more than half of the box office revenue. An insider added that Beyonce will receive the same deal and will pocket more than 50% of the global revenue. The industry is watching Swift’s AMC experiment, which is set to open in October with more than $100 million.
This artist-direct deal from AMC effectively shuts out the company’s long-standing studio partners and could have serious implications for the future of the motion picture business.
As with anything involving Beyonce, conditions are subject to change and secrecy permeates every level of her process. A source familiar with the filming of the visual album said that their work on an extensive package of music videos was completed almost a year ago, in November 2022. Her army of fans, the Beyhive and disco trap fans around the world, were confused that she didn’t release the visuals. those accompanying a Grammy-winning album to be released in July 2022.
Adding intrigue and a touch of confusion to this deal is Netflix, who hired the singer in a multi-picture deal when they acquired her smash Coachella concert film Homecoming in 2019. It’s unclear what obligations she has to the streamer, but it’s safe to say no one is telling Beyoncé what to do.
In August, Above the Line reported that this particular film was shot in pseudo-secrecy by director Nadia Lee Cohen. On Friday, eagle-eyed users fanned out