The Rise of Concert Films
How and why concert movies took center stage in 2023
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GM readers 👋,
Happy March!
First off, we had a great turnout for our Second Annual King Cake Raffle. Congrats to this year’s winner John D.!
Second, we have an exciting collaboration to announce! Several years ago a friend forwarded me a Twitter thread analyzing the origins of my hometown New Orleans’ hip-hop scene. I loved the analysis and have been following Trapital’s content ever since. If you’re not already familiar with their work, I suggest subscribing to their weekly newsletter and checking out their podcast, which has included interviews with industry thought leaders like Will Page, Matt Pincus, and Tatiana Cirisano.
So it’s a real honor to team up with Trapital’s founder Dan Runcie to take a closer look at the booming concert film genre. You can read the piece on Trapital’s site and subscribe to their newsletter here. I also recorded a podcast with Dan that you can listen to here.
Before diving into this month’s newsletter, I should admit that I don’t have much experience in the film industry. But it’s hard for me to quell my curiosity in the face of Taylor Swift’s film making over $200 million at the global box office, while only costing an estimated $10 to $20 million. Does she ever miss a shot? We’re going to analyze how concert films have performed historically, what seems to be driving their sudden resurgence, and speculate on where the genre might be headed in the future.
Finally, I’ve learned one thing over and over again while growing a newsletter. You need a team of smart folks to help you grow. With that in mind, a huge thank you to Cornell student Emily Yuan for helping research, write, and edit this piece!
And with that, on to the disclaimers…
Note: I write this newsletter to learn in public. I’m not a licensed investment professional. This piece is for informational purposes only. None of this is tax, financial, investment, or legal advice. Do your own research!
Now, let’s get after it!
Jimmy
The Rise of Concert Films
“As soon as I accomplish one goal, I replace it with another one. I try not to get too far ahead of myself. I just say to myself, 'All right, well, I'd like to headline a tour,' and then when I get there, we'll see what my next goal is.” - Taylor Swift
Back in college, a couple friends introduced me to Martin Scorsese’s film The Last Waltz. If you’re unfamiliar, the documentary covers rock group The Band’s farewell concert at Winterland Ballroom in San Francisco during the late 1970s. During the show, the group is joined by a number of legendary special guests, including Bob Dylan and Joni Mitchell. I loved the film. It introduced my teenage self to The Band’s music, and The Last Waltz’s soundtrack remains in my regular playlist rotation.
Concert films like The Last Waltz aren’t a new genre. Some of the earliest examples date back to the 1940s, with one of the earliest known productions being Concert Magic, which features violinist Yehudi Menuhin performing at the Charlie Chaplin Studios in 1947. While developing a concert film isn’t a new idea, 2023 was arguably the most successful year ever for this genre.