According to Bloomberg analysis, pop star Taylor Swift has another “award” to add to her achievements this year: Becoming a billionaire.
Bloomberg’s billionaire tracking index shows that the 34-year-old singer’s total net worth is currently at $1.1 billion thanks to the resounding success of her Eras Tour world tour.
Taylor Swift is one of the few entertainers to become a billionaire based solely on music and performance activities.
Previously, Mr. Chris Leyden, Marketing Director at online ticketing platform SeatGeek, commented to CNN that Taylor Swift’s Eras Tour is “rewriting the playbook on entertainment economics”.
“She was more than just a performer,” Leyden said. She is also an economic phenomenon.”
This young female singer has dominated not only the music charts but also local movie theaters. In its opening weekend, the concert film “Taylor Swift: The Eras Tour” grossed approximately $96 million at the box office in the US and Canada, becoming the highest-grossing concert film domestically in its opening weekend.
According to August survey data from research firm AskPro provided exclusively to CNN, the Eras Tour could rake in $2.2 billion in ticket sales in North America. That unprecedented number includes ticket sales from the events Swift just wrapped up in Los Angeles, plus a second North American leg set to take place next year. It would become the highest-grossing tour ever.
This music event has boosted the local economy in many venues in North American cities. The final 6 nights of Taylor Swift’s Eras Tour in Los Angeles are estimated to bring in an estimated $320 million to the California city.
This talented and beautiful girl even helped “polish” the name for the American National Football League (NFL). Rumors about the star attending the October 1 game to meet boyfriend Travis Kelce of the Kansas City Chiefs team have caused ticket prices to increase more than 40%, from 83 USD to 119 USD.
The fact that Taylor Swift is a cultural phenomenon adds to her economic influence.
In the cities where Swift performed, public transportation ridership skyrocketed and hotel rooms were packed. Santa Clara, a technology city located in Northern California, was quickly renamed “Swiftie Clara”. In Seattle, Swifties (Taylor’s fans) dancing to music caused seismic activity equivalent to a magnitude 2.3 earthquake.
The star also re-released the album “1989” on October 27. This album earned a total of 10 Grammy nominations at the time of its initial release.
According to Forbes, Swift can now stand on par with Rihanna, the female singer who will become a billionaire in 2021. For many years without releasing a new album, Rihanna has spent that time building her own business empire, through through the makeup line Fenty Beauty and the lingerie line Savage x Fenty. Jay Z and Beyoncé achieved this milestone in 2017. Besides music, the couple is also involved in various business ventures.
