Rise and rise of Taylor Swift: She's now a billionaire!
Is there anything Taylor Swift cannot do? Evidently not. Bloomberg's Billionaire Index has revealed that she has waltzed into the billionaire's club with a net worth of $1.1B! The news comes at a time when her re-recorded album 1989 (Taylor's Version) has been released. Her recent Eras Tour—which broke previous records and set new ones and proliferated her earnings—has played a consequential role here.
Her 'shrewd decision to re-record her first six albums' contributed
Per Bloomberg, "She's one of the few entertainers to reach that status based on music and performing alone, the result of work and talent, but also canny marketing and timing." "Her prolific songwriting, negotiations around streaming and shrewd decision to re-record her first six albums have enabled her to create massive financial success at a time when musicians have lost clout in the industry."
Number crunching: She has massively added to the US's GDP
Bloomberg's data has further revealed that her 53 US concerts added $4.3B to America's GDP. These calculations are based on a variety of factors: the estimated value of her music catalog and five homes, earnings from streaming deals, music sales, concert tickets, and merchandise. "In addition to being a generational talent, Swift is a great economist," says Carolyn Sloane, University of Chicago's labor economist.
The Eras Tour might become the most successful tour ever!
Swift's massive fandom—the Swifties—is the key to this massive empire built by the singer. Per AMC, Taylor Swift: The Eras Tour, accumulated about $96M in the US and Canada in its opening weekend. Her Eras Tour is projected to gross $2.2B in North American ticket sales, per research firm QuestionPro. These numbers are reportedly unprecedented and Eras might become the highest-grossing tour ever.
Swift is a sheer force to reckon with
Swift sent ticket prices soaring from $83 to $119 when she went to watch rumored beau Travis Kelce's NFL game in early October. The globally popular songstress—a cultural phenomenon—also caused a reported increase in public transit and hotel occupancy, has had cities named after her briefly, and the University of Melbourne will be holding a "Swiftposium" next year! A force to reckon with, indeed.
