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Variety has learned from sources with insight into the matter that discussions are in their final stages for a film centered around Beyoncé’s highly successful Renaissance World Tour. This project is in advanced negotiations for direct distribution through AMC Theatres.
Earlier, CAA, the prominent talent agency, had preliminary discussions with major film studios and streaming platforms. Just two weeks ago, they encouraged potential bidders to prepare for a competitive project. Beyoncé has been developing this endeavor for several years, envisioning a film that would encompass elements of her immensely profitable 2023 live shows, segments from the long-anticipated visual album “Renaissance,” and a documentary-style depiction of the album’s creation and the tour’s development. Fans can also expect appearances by Blue Ivy Carter.
Insiders have revealed that the project is targeting a wide release date of December 1. Reports suggest that by the conclusion of the Renaissance World Tour, ticket sales are expected to amass nearly $560 million.
AMC Theatres, when approached for comment, did not provide a response to multiple inquiries. CAA also refrained from making any official statements regarding the matter. Representatives for Beyoncé were not accessible for comment.
Beyoncé’s deal follows in the footsteps of Taylor Swift’s recent agreement, in which Swift secured a deal for a concert film based on her highly attended Eras Tour. Reports have indicated that Swift’s terms are extremely favorable, as she financed the project independently and is set to receive over half of the box office earnings. Beyoncé’s deal mirrors these terms, and she is poised to collect more than 50% of the global box office earnings, according to an insider. The industry is closely monitoring Swift’s AMC experiment, with expectations of opening north of $100 million in October.
This direct deal-making with artists by AMC has the potential to disrupt the longstanding relationships the company has maintained with major studios. It may also have significant implications for the future of theatrical cinema.
As is customary with anything Beyoncé-related, circumstances are subject to change, and secrecy is a central tenet of her creative process. Sources familiar with the visual album shoot have disclosed that her work on an extensive collection of music videos concluded nearly a year ago, in November 2022. Fans worldwide, including the dedicated Beyhive, have been eagerly anticipating the release of these visuals, which accompany her Grammy-winning album from July 2022.
Adding intrigue and a bit of mystery to this deal is the involvement of Netflix. The streaming giant entered into a multi-picture deal with Beyoncé after acquiring her highly acclaimed Coachella concert film, “Homecoming,” in 2019. The extent of her obligations to Netflix remains unclear, but it’s evident that no one is in a position to dictate terms to Beyoncé.
In August, it was reported that this particular film had been covertly shot by director Nadia Lee Cohen. Additionally, on Friday, sharp-eyed users on X (formerly Twitter) noticed that AMC Theatres CEO Adam Aron had followed Beyoncé on the platform, further fueling speculation and anticipation.