Taylor Swift - Swifty Nation takes Over!
These days, musical artist Taylor Swift is much more than just a pretty face. Over the past decade, she’s produced hit songs like “Style”, “Lover”, and “Shake it Off” along with amassing an Instagram following of over 272 million followers.
Swift herself, has taken control over her musical empire unlike any female artist in the history of the music business. However, it’s her mastery of ticket sales that pushes her quickly toward billionaire status.
In 2023, Taylor Swift tickets sales for her “Eras” tour has generated just under 1 billion dollars. Here’s why this phenomenon has worked.
The average price range of pre-sale and first sale tickets is $49 - $499 dollars.
Many households purchased 3 tickets or more.
Concert goers spent an average of $300 on their outfits, over $200 or more on merchandise, and $130 on food and drink.
In addition, there are sponsorship fees that go directly to the artist and the show’s promoters.
According to Tyrone Jackson, host and executive producer of Hollywood in Hollywood and Hot in Hollywood Talk, the increased revenue at concerts featuring artists like Taylor Swift and Beyonce, is in part due to the lack of Hollywood Blockbuster films. Jackson goes on to say “in the U.S. economy, entertainment dollars frequently migrate from the movie business to the live entertainment business. If there are less Hollywood blockbuster movies to go and see, U.S. teens will take their discretionary funds and put them towards live concerts”.
Jackson’s observations are well taken. “If Hollywood continues to emphasize streaming over big theatrical movie releases, the biggest beneficiary of migrating entertainment revenue will be the live event music business”.
Taylor Swift and Swifty Nation will continue to be a dominant economic force for the foreseeable future. Good luck Taylor, job well done! Enjoy your billions!