Taylor Swift’s billionaire empire goes far beyond album sales

There are many billionaires and pop stars, but there is only one Taylor Swift. Swift is not just selling albums: his team has created an entire economic ecosystem that extends from cassette tapes to hotel room reserves.

Swift itself performs various functions. She is a global artist, film producer and, thanks to her engagement with Kansas City Chiefs’s tight end, Travis Kelce, a constant figure from NFL.

From 2023, she also became billionaire.

Swift released his 12th studio album on Friday (3), “The Life of A Showgirl”, along with a concert film, and is expected to both income even more-if no more.

Bloomberg’s billionaire rate has estimated that his fortune has grown another $ 1 billion over the past two years, raising his assets to $ 2.1 billion due to changes in markets, Eras Tour’s tour recipes – which broke records – and the show of the show, as well as the purchase of the rights of all their previous albums.

And unlike most celebrities, Swift made businesses part of his persona, positioning themselves at the forefront of the long narrative in the world of music that invisible executives received much of the money actually generated by the artists.

“Taylor spoke out and said, ‘I won’t let it happen, I will change the industry,” Oregon University Professor Drew Nobile told CNN.

“That’s why the whole idea of ​​Swiftonomics has consolidated itself.”

Cinematographic launches

Swift’s latest film-concept, “Taylor Swift: The Eras Tour,” was an unprecedented success for the box office after Covid, collecting $ 261.7 million worldwide, according to IMDB data.

AMC, a distributor of the film, said the movie “broke high ticket sales revenue records in a single day,” surpassing the previous record detained by “Spider-Man: No Way Home”, less than three hours after tickets were made available.

Swift also made the decision to work directly with the AMC cinemas network, dispensing with traditional studios, which allowed him to get a greater slice of gross profits.

Swift is now embarking on another AMC movie with “Taylor Swift: The Official Release Party of A Showgirl”, a renowned movie framed as a release party for her latest album, screened during a weekend.

Deadline reports that the film is expected to collect between $ 30 million and $ 35 million in the domestic market.

Swift has redefined “how cinema can be used to promote your music, career and public image,” Paul Dergarabedian, head of ComScore market trends told the CNN.

Boosting local businesses

Taylor Swift’s huge tour of Taylor Swift has spread to the 51 cities she visited. It has become the highest box office tour of all time, with an estimated revenue of US $ 2.2 billion only with the sale of tickets in North America.

Swift fans spent about $ 5 billion in the United States compared to the Eras tour, according to the research company Question Pro.

The US Travel Association found that Eras Tour participants spent an average of $ 1,300 on trips, hotels, food and promotional products – almost as much as Super Bowl goers.

The central areas of the cities where she performed registered peaks in traffic and hotel occupation, breaking records in cities such as Pittsburgh, Pennsylvania.

Although the album’s release certainly has no impact on GDP numbers such as the Eras Tour Tour had, American University’s economy teacher Kara Reynolds noted that swift albums tend to generate more local spending than other artists.

This translates into business for bars that hold launch parties, customers who buy new clothes for these parties and ticket sales in theaters.

Owner of his musical catalog

Bloomberg’s billionaires rate has estimated the value of Swift music since 2019 at US $ 400 million.

With swift repurchasing the rights of the original recordings of their first albums of a private equity company, this number will certainly increase now that it has control over its entire musical catalog, as well as the rewrites of Taylor’s Version.

Now, Swift can take advantage of the historical success of his early works and also any new projects, as the Eras Tour has launched it to an even greater star.

Reynolds said that when Swift releases an album, the streaming of his previous works also increases, and this will surely bring even more money.

Swift has been Spotify’s most popular global artist in the last two years, and her albums have reached platinum album – which means they sold over one million copies – over 100 times. And not to mention their singles and releases outside the albums.

The emergence of streaming services means that we have been spending a long time on the days when album sales were the main business model for artists.

Swift was a pioneer in the new method: seeing a new album as a gateway to boost “homemade industries” such as promotional products, collectible vinyl editions and cassette tape, tours and movies.

“It’s no longer just about album sales or tickets (…) it’s a whole economic apparatus,” said Professor Nobile.