When Taylor Swift said “I put the money in the bag and I stole the keys” (-getaway car) she really meant it!
THE ERAS TOUR: The musical sensation (and at this point cultural phenomenon) that has captured the hearts of hundreds of millions and even some governments (Brazil!) is more than just every teenage girl's dream and every parent of a teenage girl’s worst nightmare, but also a massive contributor to the US economy?
This article is basically one big rebuttal to the age-old comment “Taylor Swift isn’t even that important, she just makes music for teenage girls”. Yeah, well, she also boosted the US economy by $4.6 billion, which trust me, is quite important.
For those who have been living under a rock, here are some statistics to help you understand the true scale of this tour:
Taylor Swift: The Eras Tour was projected to make $5 billion in consumer spending (in the US alone). In October it was reported that Taylor Swift: The Eras Tour boosted the US economy by $4.6 billion (and she still has tour dates in the US left). In fact, visitor spending contributed $140 million to state GDP in Denver alone. This is because only one concert generated $11 - 12 million in ticket sales alone. And finally, a quote from the president of QuestionPro Research Dan Fleetwood: “If Taylor Swift were an economy, she’d be bigger than 50 countries.”
Mind blown yet?
While it is obvious that the tour generates ridiculous amounts of money for Swift personally, her dedicated fanbase (Swifties) is single-handedly boosting the tourism industry to pre-pandemic levels, sometimes even surpassing them.
The Eras Tour concert isn’t just a concert; it’s a whole holiday. Normally, every $100 spent on live performances generates an estimated $300 in customer spending. Swifties attending the concert spend an average of $1,300 on various products/services such as food, transportation, hotels, flights (as a large portion of attendees are not local), merch, and more.
This all means a significant increase in airplane tickets, hotel rooms, and food, therefore increasing the demand for these products/services.
Many governors (such as the governor of Illinois) have credited the revival of tourism in their cities to Swift, as the data is impossible to deny: hotels in Cincinnati and Chicago reached a record-breaking occupancy at 98% and 99.6% respectively on the nights the Eras Tour came into town and tourism board Visit Cincinnati reported that Taylor Swift generated $90 million for the greater Cincinnati area.
Most impressively, the opening night of the tour (Glendal, Arizona) generated more revenue for local businesses than the Super Bowl. Yes! The Super Bowl! Also known as one of- if not- the biggest event in all of America. Now imagine that magnitude of economic power and times it by 53, and there you have the Eras Tour.
Swift also increases her employees spending power by giving them bonuses of a total of approximately $55 million, with each of her 50 truck drivers receiving bonuses of $100,000.
The income generated by these shows extends past Swift herself to locals due to the fact that the money is flowing domestically. Usually, the reason behind such a spike in GDP is massive exports, but because the Eras Tour actually encourages local business activity and keeps the money flowing in the economy, the local economy benefits, thus increasing the spending power of these business owners, creating a chain reaction of economic growth.
To conclude this glorified tangent I'm going to give one more example that perfectly represents Taylormania:)
The 6 shows in Los Angeles benefited from an economic impact of $320 million; 3,300 jobs were created; $20 million in sales and local sales tax; and $9 million in hotel room taxes.
Guess she really never goes out of style ;)
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