AMC shares gain after cinema chain says it will distribute Beyonce concert film

Investing.com -- AMC Entertainment (NYSE:AMC) shares moved higher on Monday after the cinema chain announced that one of its units is set to distribute a movie based on U.S. pop star Beyonce's "Renaissance World Tour" later this year.

The picture, "Renaissance: A Film by Beyonce," follows the entertainer's 57 performances in dozens of locations in North America and Europe this summer.

AMC said it be released in the U.S., Canada and Mexico starting on Dec. 1, and will debut in more global cities at a later date.

Cinemark (NYSE:CNK) will also be playing the film at its U.S. theaters, the AMC peer said.

Concert films have recently provided a lucrative stopgap for cinema chains desperate to plug the holes in its new release lineup stemming from strikes by Hollywood actors and writers. A movie documenting megastar Taylor Swift's "Eras Tour" is due to come to theaters worldwide from Oct. 13 and is expected to collect as much as $145 million in North American box office sales alone.