Taylor Swift’s ‘Eras ​​Tour’ officially catapulted her as one of the world’s billionaires

Taylor Swift is officially a billionaire and only the money produced during her latest and most successful world tour “Eras Tour” equals the economies of small countries, according to a Bloomberg analysis. She thus becomes one of the few artists to have amassed such an impressive fortune, almost entirely through her musical career and her live performances.

Swift‘s prolific musical creation, her ability to negotiate streaming contracts and her shrewd decision to re-record her first six albums are factors that allowed her to achieve this unimaginable financial success, at a time when musicians have lost influence in the industry. Additionally, the close relationship she has cultivated with her millions of followers around the world has strengthened her demographic base, more unified than that of any political party.

The Eras tour, comparable only to a Super Bowl in terms of magnitude and which has toured numerous cities around the planet, has been the trigger for the pop star ‘s fortune , boosting his net worth beyond $2 billion . Taylor Swift revalidates her dominance in the music industry, amassing a monumental fortune, much of it generated by her world tours. (AP Photo/Chris Pizzello)

This musical tour is not over yet and has already broken records, caused a frenzy for tickets and even generated the equivalent of a small earthquake due to the volume of attendance. The singer‘s 53 concerts in the United States this year contributed $ 4.3 billion to the country’s gross domestic product, according to Bloomberg estimates.

The analysis

Bloomberg‘s analysis is based on assets and earnings confirmed or traceable from publicly disclosed figures. The estimated value of his music catalog, his five properties and profits from streaming contracts, music sales, concert tickets and merchandise were taken into account. Also considered was the impact of income tax, production and tour travel costs, and commissions paid to managers and agents. The artist and her team did not respond to requests for comment, Bloomberg confirmed.

Swift‘s return to the stage came just as the world, tired of the absence of live events due to the pandemic, was ready to spend, helping the Eras tour gross more than $ 700 million in sales. tickets for shows held to date.

Additionally, the average cost of tickets was $254, although many paid significantly higher amounts on the resale market. And we still need to add the figures that the Eras tour will generate when it resumes its shows next month with nine concerts in South America . Through strategic decisions, such as re-recording her old music catalog, Taylor Swift has generated billions in profits. (REUTERS/Mario Anzuoni)

The Swift phenomenon

In the music economy, Swift has proven to be a considerable commercial powerhouse. “There is a whole ecosystem that she has built and it is very lucrative for her,” said Alice Enders, senior researcher at Enders Analysis, interviewed by Bloomberg. With a fan base that has grown alongside the 33-year-old singer in an era where trust and intimacy are naturally established online, the Internet has allowed Swift to market her music to her fan base much easier than to the culturally dominant stars of yesteryear.

Her fans’ devotion has fueled sales of concert tickets, but also vinyl records, bracelets, beads, sequins, airline tickets, and billions of streams of her songs, both new and recently re-recorded. Swift still has 89 more concerts to perform.

In the cities where Swift performed, public transportation use increased and hotel occupancy skyrocketed. Santa Clara, the tech-rich city located in Northern California, briefly became “Swiftie Clara.” In Seattle, dancing Swift fans caused seismic activity equivalent to a magnitude 2.3 earthquake, CNN reported. Swift has proven to be a marketing powerhouse, building a strong financial ecosystem based on her musical assets and business relationships. (REUTERS/Alexandre Meneghini)

Right decisions

Swift has learned from the disadvantages and mistakes of previous generations in the music industry. John Lennon and Paul McCartney of The Beatles lost the publishing rights to her music early in her career. When these rights were auctioned years later, McCartney was surpassed by Michael Jackson.

Swift herself left Spotify years ago because she considered that the royalties paid to artists were unfair, although she later rejoined the music platform where she has more than 101 million monthly listeners. But it’s touring that has emerged as one of the most lucrative endeavors for musicians.

Even after the tour craze fades and Swift is no longer at the top of global pop culture, she will still have millions in earnings to show for her reign at this moment in entertainment history. At 33 years old, she has great potential for future earnings  “Every endorsement, partnership and business move she makes is part of a larger, meticulously constructed plan,” she told Bloomberg, Stacy Jones , founder of marketing agency Hollywood Branded. Eras, Swift’s concert film, has broken box office records in its opening weekend, demonstrating its global appeal. (AP Photo/Chris Pizzello)

The big screen

Taylor Swift , a 12-time Grammy Award winner , has also reached a major milestone in her career, this time at the film box office. Her concert film, “Taylor Swift: The Eras Tour ,” grossed approximately $96 million in its opening weekend alone in the United States and Canada , according to the AMC movie chain . One figure makes “Eras” the highest-grossing concert film domestically during its opening weekend.

As published by CNN , the short film also generated around $ 32 million in international sales, ranking first at the box office in the United Kingdom, Mexico, Australia, Germany and the Philippines . “Eras” is expected to be released in Brazil, South Korea, Malaysia, Singapore, Taiwan and Hong Kong on November 3.

Domestic box office sales of $ 96 million far surpassed its competitors, including “The Exorcist: Believer” and “Paw Patrol: The Mighty Movie . ” Additionally, the “Eras” tour , which began in the spring and will continue through much of next year, has had a significant impact on upcoming grosses .

The movie “Eras” offers fans who couldn’t get tickets the chance to sing, dance, dress up and share handmade bracelets from the tour with other Swift fans . Directed by Sam Wrench , the feature is nearly three hours long and was filmed over three nights at SoFi Stadium in Los Angeles this summer.