Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

The Taylor Swift economy motors on

The Taylor Swift economy motors on

Analysts say Swift's US Eras Tour could generate $642 million to $728 million

The ongoing Eras Tour has not just been lucrative for Taylor Swift – the economies of the cities that she has stopped at have massively financially benefited as well.

The songstress has just under half of her 52 scheduled tour dates under her belt so far, most recently singing her hits to fans at three sold-out stadium shows in Foxborough, Massachusetts, over the past weekend. For one of those concerts, a father said he spent $21,000 on a reseller site to get four tickets for his daughter and her friends after a ticketing issue.

Swift’s sold-out performances at Foxborough had been preceded by the same for her three shows in Nashville, Tennessee, and her three dates in Philadelphia.

John Simson, the director of the business and entertainment program at American University’s Kogod School of Business Management Department, told FOX Business her tour is having a "huge effect" on local economies, noting there is "maybe a handful of artists who are at that level where people are willing to essentially buy a ticket wherever they can and then travel," including her.

He pointed to a Live Nation-commissioned Oxford Economics study, published in 2021, that said live events such as concerts brought $55.2 billion of direct spending to local economies overall in pre-COVID 2019, $32.6 billion of which came from visiting overnight attendees and daytrippers. It also said a $100 purchase of a concert ticket by a non-local attendee would come with about $330 in spending in the local economy.

"So double that [per-ticket additional spending] for Taylor because obviously the ticket prices are at least $200 on average, maybe even higher from all the reports," Simson said.

Some local sectors of the economy that have benefited from Swift being in town include restaurants, hotels, transportation and recreation.

Local museums, clubs, malls and other venues also see positive impact from spending that coincides with Swift’s tour, according to Simson. Other concerts in town can as well.

"The other factor that may impact this is when you have a show in Foxborough, it’s very different than if you have a show that’s in the city because obviously there’s way more in terms of restaurants and other things to do," Simson said. "Like if you went to Taylor Swift in Nashville, maybe you’d go to the Wildhorse Saloon or the Grand Ole Opry. You’d make a trip of it, and you’d add two or three more things."

Nearly 212,000 total people attended Swift’s three shows in Nashville, including some 71,000 on May 7, according to the Nashville Convention & Visitors Corp (NCVC). Per the organization, attendance records were set on a single-event and weekend basis for Nissan Stadium.

Guests attend night three of Taylor Swift | The Eras Tour at Nissan Stadium on May 7, 2023 in Nashville, Tennessee.


"As an anchor of a star-studded weekend in Music City, Nashville’s hotel occupancy rate reached a staggering 97% at the peak of Taylor Swift’s Eras Tour," Nashville Area Chamber of Commerce CEO Ralph Schulz said in a statement to FOX Business. "With three sold-out concerts, the tour generated tens of millions in direct visitor spending, boosting local businesses and supporting job growth, while also showcasing Nashville as a premier destination for music enthusiasts worldwide."

Nashville had other events that weekend, including a brewing-related convention, a show by Janet Jackson and three nights of stand-up from Trevor Noah, according to the NCVC. Three universities also had graduations, one of which Oprah Winfrey delivered the commencement at.

In other cities like Phoenix, Houston and Tampa, Florida, hotels saw notably high occupancy rates on the weekends Swift performed, according to local reports.

What a musician makes per-show on tour varies, as each out "has different economics," Simson said.

Many artists have various people like agents, managers and business managers they work with that each take percentages from the shows, he explained. He said the performers get to renegotiate such terms to "make them more reasonable" as they become more popular.

The number of tickets sold, their prices and the capacity of the venue also factor in.

"I would think $5-6 million grosses are probably in the ballpark of what [Swift] is doing right now," Simson said.

Swift’s entire U.S. Eras Tour could generate $642 million to $728 million, according to a March estimate from music industry publication Pollstar.

Fans will next see the singer in East Rutherford, New Jersey for a trio of dates starting Friday.

Taylor Swift performs onstage for night three of Taylor Swift | The Eras Tour at Nissan Stadium on May 7, 2023 in Nashville, Tennessee.


Swift’s three-hour-long concerts, her first since 2018, feature "Shake it Off," "Fearless" and a slew of other hits, plus two surprise songs, according to reports. Many fans who could not land tickets have "Taylor-gated" outside the stadiums to hear her live.

AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Ukraine Declares De Facto War on Hungary and Slovakia with Terror Drone Strikes on Their Gas Lifeline
A monster hit and a billion-dollar toy empire
Animated K-pop Musical ‘KPop Demon Hunters’ Becomes Netflix’s Most-Watched Original Animated Film
Canada: Nurse Suspended and Fined 93 Thousand Dollars After Stating the World’s Most Well-Known Fact Since the Creation of Adam and Eve, That There Are Only Two Genders
Elon Musk tweeted, “Europe is dying”
Far-Right Activist Convicted of Incitement Changes Gender and Demands: "Send Me to a Women’s Prison" | The Storm in Germany
Hungary Criticizes Ukraine: "Violating Our Sovereignty"
Will this be the first country to return to negative interest rates?
U.S. Treasury Secretary Whitney Bessent Backs Stablecoins to Boost Treasury Demand
Spain to Declare Disaster Zones After Massive Wildfires
Three-Minute Battery Swap Touted as Future of EVs
Beijing Military Parade to Showcase Weapons Advances
U.S. Tech Stocks Slide on AI Boom Concerns
White House Confirms Talks Over Intel Stake
Trump Suggests U.S. Could Support Ukraine ‘By Air’
Trump Called Viktor Orbán: "Why Are You Using the Veto"
Horror in the Skies: Plane Engine Exploded, Passengers Sent Farewell Messages
AI in Policing: Draft One Helps Speed Up Reports but Raises Legal and Ethical Concerns
Shame in Norway: Crown Princess’s Son Accused of Four Rapes
Apple Begins Simultaneous iPhone 17 Production in India and China
A Robot to Give Birth: The Chinese Announcement That Shakes the World
Finnish MP Dies by Suicide in Parliament Building
Outrage in the Tennis World After Jannik Sinner’s Withdrawal Storm
Class Action Lawsuit Against Volkswagen: Steering Wheel Switches Cause Accidents
UK Government Tries to Sue 4chan for Breaching Online Safety Act
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Cambridge Dictionary Adds 'Skibidi,' 'Delulu,' and 'Tradwife' Amid Surge of Online Slang
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
The CEO Who Replaced 80% of Employees for the AI Revolution: "I Would Do It Again"
"Every Centimeter of Your Body Is a Masterpiece": The Shocking Meta Document Revealed
Character.ai Bets on Future of AI Companionship
China Ramps Up Tax Crackdown on Overseas Investments
Japanese Office Furniture Maker Expands into Bomb Shelter Market
Intel Shares Surge on Possible U.S. Government Investment
Hurricane Erin Threatens U.S. East Coast with Dangerous Surf
EU Blocks Trade Statement Over Digital Rule Dispute
EU Sends Record Aid as Spain Battles Wildfires
Beijing is moving into gold and other assets, diversifying away from the dollar
China Requires Data Centres to Source Majority of AI Chips Locally, For Technological Sovereignty
Escalating Clashes in Serbia as Anti-Government Protests Spread Nationwide
Category 5 Hurricane in the Caribbean: 'Catastrophic Storm' with Winds of 255 km/h
Trump Backs Putin’s Land-for-Peace Proposal Amid Kyiv’s Rejection
Digital Humans Move Beyond Sci-Fi: From Virtual DJs to AI Customer Agents
YouTube will start using AI to guess your age. If it’s wrong, you’ll have to prove it
Jellyfish Swarm Triggers Shutdown at Gravelines Nuclear Power Station in Northern France
OpenAI’s ‘PhD-Level’ ChatGPT 5 Stumbles, Struggles to Even Label a Map
Zelenskyy to Visit Washington after Trump–Putin Summit Yields No Agreement
×