It looks like Taylor Swift has officially joined Jay-Z, Rihanna and Ye in the billionaires club.
The beloved singer-songwriter embarked on her record-breaking “Eras Tour” this year, which CNN reported could bring in $2.2 billion in ticket sales — and boosted the net worth of Swift at $1.1 billion, according to a Bloomberg News analysis Friday.
Swift is in rarefied air as one of the few artists to reach this milestone through music and concerts alone, and without any business ventures outside of music.
The 33-year-old, however, has many other reasons to rejoice, including Friday’s release of her re-recorded album “1989” and her concert film “Eras Tour” which is dominating the box office.
“Taylor Swift’s ‘Eras’ tour is rewriting the entertainment economics playbook,” Chris Leyden, director of growth marketing at event ticket platform SeatGeek, told CNN in August. “She’s not just an artist, she’s an economic phenomenon.”
This phenomenon would have included an average ticket price of $455.78 and an average attendance of 72,459 people for the 68 concerts in North America. Swift not only outperformed Elton John’s “Farewell Yellow Brick Road” tour, but also created veritable micro-economies.
A recent report from the California Center for Jobs and the Economy noted that while travel and tourism in the state has yet to return to pre-pandemic levels, Swift’s last six Los Angeles shows have brought some much-needed relief to the city – in the form of $320 million.
Los Angeles alone saw 3,300 new jobs created thanks to Swift’s sold-out concerts.
The US Travel Association reported that all 21 cities on the tour were affected, with fans spending an average of $1,300 on travel, hotels and food. A study conducted by QuestionPro determined that “Swifties” spent a total of $5 billion following this tour.
“It was a confluence of people with savings, people with a desire to spend and the fact that she produced a number of albums that, for many people, were the soundtrack to the pandemic,” he said. said Brett House, professor of economics at Columbia Business School. Bloomberg.
The cultural phenomenon saw stars like Emma Stone and Reese Witherspoon at Swift concerts, prompted Beyoncé to attend the “Eras Tour” concert film premiere — and led an entire city to temporarily change its name in honor of Swift’s arrival.
His fans danced so passionately at Seattle concerts in July that seismologist Jackie Caplan-Auerbach reportedly compared it to a magnitude 2.3 earthquake. Swift admitted on Instagram the next day: “It was honestly one of my favorite weekends. »
Swift decided to re-record her first six albums after her former label sold the master recordings in 2019, and has since released “Taylor’s Version” for the first four. “1989” was nominated for 10 Grammy Awards following its popular release in 2014.
Swift’s undeniable Midas touch has even extended to those simply associated with her, as NFL player Travis Kelce’s jersey sales reportedly increased 400% when rumors began circulating about their romance .
The international leg of Swift’s “Eras Tour” begins in November in Argentina.
The Huffington Gt