Could Taylor Swift Be The Key To Ending The Hollywood Strikes? - Opinion
It’s no secret that Taylor Swift is riding an unprecedented wave of popularity at the moment. The “Cruel Summer” artist has been touring North America for the last few months, selling out stadiums for multiple evenings, with a $1 billion+ grossing tour. Last week, news of Swift’s The Eras Tour Film hitting theaters on October 13th, 2023 was met with record-breaking first day advanced sales that trumped some of Marvel’s best performances. While the film is sure to be a force at the box office for weeks after its debut, could Swift also have provided the kill shot to the AMPTP (Alliance of Motion Picture and Television Producers) in the current standoff with the Writers Guild of America (WGA) and the Screen Actors Guild – American Federation of Television and Radio Artists (SAG-AFTRA)?
The WGA has been on strike now for over 125 days while the actor’s strike is now around 50+ days, stalling production on new and returning television and film projects for the foreseeable future. Just last week we learned that highly-anticipated films are not immune to moving; Dune: Part Two has shifted to a March 2024 debut. But how does Taylor Swift factor in?
Hollywood studios were first approached about a partnership with Swift for the release of The Eras Tour Film, but the two sides were not able to come together on a deal, leading to the CEO of AMC Theaters being phoned up and a deal being struck. Not only are theaters that screen the concert film about to make out like bandits (43% of grosses go to the theaters, as well as all revenue from concessions and merchandise sales), but AMC, circling bankruptcy, is set to profit greatly. All of this at a time where studios are banking on their few theatrical debuts to help them meet financial expectations this fall while attempting to reorganize their future offerings. Quite simply, money was left on the table and the Taylor Swift/AMC Theaters duo is about to collect. With studios being all about the bottom line, this has to sting.
The larger risk down the road for studios is that theaters, fresh off of the financial buffet Swifties are about to offer up, are likely to explore more non-traditional theatrical releases that could help infuse their revenues. Such projects would take up much-needed screens for big and small releases alike, steal would-be moviegoers, and overshadow high-profile films that otherwise would have soared.
Make no mistake, studios are paying attention to Swift’s latest move. At the end of the day, it’s about maximizing profits for them, that’s what the hold-out has been as writers and actors seek fair wages and treatment. If the threat of Taylor Swift and other challenges weight heavy enough on their potential fiscal outlooks, they’ll move towards a deal sooner than thought, and that can only be a plus for those striking. Here’s hoping.
