User:DraculaParrot/Economic Effects of Taylor Swift
Swiftonomics is a term describing (encompassing) the impact of Taylor Swift on the American and global economy. This includes her concert tours, streaming audio, video, and her ability to affect sales, trends, and industry practices.[1][2] The US GDP was affected either with adding a few billions USD per various sources.[3] Many news outlets call the Taylor Swift effect “Swiftonomics”.[4][5]
Concert Tours
[edit]Taylor Swift's concert tours are known for their impressive production values and high revenue generation. From the "Fearless Tour" to the "Reputation Stadium Tour," Swift's performances have consistently sold out venues worldwide, contributing significantly to the live music industry.
The "Reputation Stadium Tour" in 2018 became the highest-grossing tour in US history, illustrating her massive draw as a live performer.[6]
Streaming and Digital Sales
[edit]Swift has changed the nature of streaming royalties from Spotify.[7]
Music Videos and Promotion
[edit]Swift's music videos have set records for viewership on platforms like YouTube, generating substantial advertising revenue and further promoting her.
Singapore tour
[edit]Taylor Swift's Eras Tour in Singapore helped local booking and travel industries as well. During the concert period of March 1 to 9, Trip.com noted a 275% increase in Singapore-related bookings compared to a later period in March, with inbound flight bookings up by 186% and hotel bookings by 462%. HSBC suggests such events could drive growth for Singapore, whose economy benefits significantly from tourism, accounting for about 10% of the country's GDP.[8]
The exclusivity of Swift's Singapore stop, the only one in Southeast Asia, has sparked discussions. Thailand's Prime Minister suggested that Singapore paid up to $3 million per show to secure this. Singapore's government and culture ministry confirmed a grant to Swift but did not disclose details on exclusivity terms. This aggressive approach on behalf of Singapore made the relations between ASEAN countries slightly more nervous.[9]
Travice Kelce
[edit]Travis Kelce, an American football tight end for the Kansas City Chiefs of the National Football League (NFL), has reportedly undertaken significant financial spendings because of his dating with Swift. Since the start of their relationship in early October 2023, Kelce, with a net worth estimated at $30 million, has demonstrated a willingness to use his finances to impress Swift. It includes the purchase of a lavish 17,000 square-foot mansion in Kansas City, because of a known Swift's taste luxury. This purchase consumed 54.5% of his annual salary.[10]
References
[edit]- ^ "'Swiftonomics': The Global Impact of Taylor Swift". globaledge.msu.edu. 2024-02-08. Retrieved 2024-02-28.
- ^ Hebert, Bridgett (2023-09-19). "The Taylor Swift Impact – 5 Months and $5+ Billion". www.ustravel.org. Retrieved 2024-02-28.
- ^ "Taylor Swift and the strange power of 'Swiftonomics'". Al Jazeera. Retrieved 2024-02-28.
- ^ "Swiftonomics: How Taylor Swift is boosting the US economy by billions". Yahoo Finance. 2024-02-12. Retrieved 2024-02-28.
- ^ "Swiftonomics boosts card billings by 35%; UOB cardholders spent over S$30 million on tickets , Companies & Markets - THE BUSINESS TIMES". www.businesstimes.com.sg. 2024-03-25. Retrieved 2024-03-25.
- ^ "The Biggest Tour in the History of the World (Taylor's Version)". TIME. 2023-08-23. Retrieved 2024-02-28.
- ^ "Why engaging with Taylor Swift's devoted fanbase boosted Spotify's global top artist campaign | Analysis". Campaign Asia. Retrieved 2024-03-12.
- ^ Magramo, Kathleen (2024-03-05). "Eras Tour: Singapore defends Taylor Swift's exclusive Southeast Asia stop after neighbors cry foul". CNN. Retrieved 2024-03-25.
- ^ "Why engaging with Taylor Swift's devoted fanbase boosted Spotify's global top artist campaign | Analysis". Campaign Asia. Retrieved 2024-03-25.
- ^ "Travis Kelce's $8M cost of dating Taylor Swift". 2024-03-19. Retrieved 2024-03-25.