Taylor Swift Officially Enters Billionaire Club After Record-Breaking Success of Her Eras Tour: Report
After her record-breaking Eras Tour, Taylor Swift has officially entered the three-comma club. The singer/songwriter has witnessed unprecedented success in her musical career after her once-in-a-lifetime concert experience led her to become the youngest self-made billionaire. And it's safe to say she's the reigning queen of American pop music.
Apparently, the amount of money her Eras Tour generated surpassed the economies of small countries. According to the Bloomberg Billionaire Index, her net worth is now at $1.1 billion, reported Bloomberg. Swift now has another feather to add to her path-breaking resume in the music industry.
America's Favorite Pop Star blessed her fans to re-live her Eras Tour moments by turning it into a film- Taylor Swift- The Eras Tour (2023) concert film. And it's ruling at the box office. That aside, Swift is currently re-recording her nine-year-old album 1989, which is expected to be a ground-breaking experience and the hottest-seller.
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In her nearly two-decade-old career, the Enchanted singer is living her best life currently. Her billionaire status takes into account the value of her music catalog, her properties, and her earning capacity from her music sales, concerts, and streaming. However, it is predicted that her music alone has contributed to her financial success.
The director of growth marketing at SeatGeek, Chris Leyden, said, "Taylor Swift's 'Eras' tour is rewriting the playbook of entertainment economics," reported CNN. Leyden continued, "She's not just a performer; She's an economic phenomenon." In fact, it was reported her musical tour also contributed to the economy of the U.S.
According to the Bloomberg analysis, the Eras Tour added $4.3 billion to the U.S.'s gross domestic product throughout the first 53 shows. The outlet values her music catalog at $400 million, (which is the music she released since 2019). If all her previous music gets included, the value could reach $1 billion.
Her billionaire tag also includes money from ticket sales and merchandise, which accounts for another $370 million. Streaming platforms like YouTube and Spotify earnings account for $120 million, and her five homes at $110 million. And it is likely she has other financial assets and sources of wealth that are not public.
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Bloomberg says, "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." It is reported that Eras Tour was equivalent to the size of a Super Bowl event. The pop star has also been dominating the screens with her concert film.
Taylor Swift: The Eras Tour has raked in about $96 million at the box office in the United States and Canada, per CNN. Carolyn Sloane, a labor economist at the University of Chicago, said, "In addition to being a generational talent, Taylor Swift is a great economist." Sloane added, "Taylor has great ideas, is able to scale her ideas, and seems to be pretty risk-seeking."
However, Bloomberg claims their analysis is only based on the figures/assets that are public. Swift may likely have more.
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