Taylor Swift raised the US economy

The contribution of her tour to GDP surpassed the financial indicators of entire countries. All because of fans ready to give the last money for a ticket

The world tour Taylor Swift can be the most profitable musical event in history. According to the results of the tour, the total income of the American singer will exceed a billion dollars (andmaybe more than two billion). However, thanks to her concerts, not only she and her team, but also the American economy will be enriched. The tour caused a real boom: people stand in lines for tickets for half a day and give the last money to see the singer live. Each concert is a tremendous event for regional economies: people spend so much money that the transport and hotel industries have already reached a well -like level. The excitement around the concerts reached other countries, and now their leaders call Miss American in their cities to stimulate local business. The economic effect of Taylor Swift is in the material "Cold".

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Eras Tour is planned for 146 concerts in 20 countries. At each of the show, Swift performs about 45 songs, and in general the performance lasts more than three hours. Eras Tour will surpass the performances of Elton John, AC/DC and Rolling Stones in terms of scale and profit. Now Taylor Swift is completing part of the tour of North America, then it will go to the south, and from there to Europe. The states have already felt the economic effect of Miss Americans.

Taking the concerts of Taylor Swift turned out to be very profitable. The singer was able to attract additional money in local economies that help medium and small businesses. For example, three Eras Tour concerts were held in Chicago (Illinois). At this time, a record number of numbers in hotels was booked in the city - more than 44 thousand. The average level of hotel occupancy reached 96.8% - fans flocked from all states.

“Taylor Swift’s full -time concerts held simultaneously with one of our largest annual congresses ( at that time a conference of American clinical oncology was held in Chicago. - Approx.“ Cold ” ), together became the most successful weekends for Chicago hotels in recent history. These figures are an indisputable evidence of the importance of large events and conferences for the city’s economy, ” said Michael Jacobson, president of the Association of Hotels and Hotel of Illinois.

Two March concerts of Taylor Swift in Las Vegas helped return tourism in the city to a premium level. For this month, about 3.66 million people visited Las Vegas-this is 9.6% more than in the same period in 2022. The occupancy of hotels on weekends reached 94.5% - a record since February 2020.

The excitement helped even the US transport system wake up after a post -toosehot stagnation. To avoid traffic jams, fans of Swift used buses and trains to get to the stadiums. So, in Chicago during the concerts, the highest traffic was recorded in three years (5.63 million trips per week from June 4 to 10). In New Jersey, they generally introduced additional transfers directly to the stadium, which took advantage of about 80 thousand people.

A similar situation has developed in Philadelphia and Arizona . Moreover, Super Bowl was held in Arizona this year - the mostpopular annual sports event in the United States. But even he could not compete with the income from the concert Taylor Swift-the singer collects the equivalent of two or three super-boats every weekend.

In Denver, Colorado, Taylor Swift played two concerts. The events were attended by about 140 thousand people who introduced about $ 140 million in the state GDP. The vice-president of the American financial consulting company Betterment Dan Igan explains that due to such performances, money is recirculated at the local level-they are transferred from person to person. According to him, usually GDP jumps occur due to exports, but in this case, Americans are rich at the expense of other Americans who come to their staff. Thanks to the hype, a sharp increase in consumer expenses occurs.

Usually, for every $ 100 that spend on a ticket accounts for about $ 300 additional costs (hotels, food, transport). But fans of Taylor Swift raised this bar: they spend on average more than $ 1300-1500 on tickets, travel, clothes and souvenirs. According to sociologists and researchers from Question Pro, if fans continue to spend the same money, Eras Tour can bring five billion dollars to the local business - and this is only in the USA. In some cities, due to the stream of listeners, a shortage of goods begins. For example, fans are pissed out to be sequins and beads to make the “Friendship Bracelet” from the song “ You're on Youor Own, Kid ”. In general, fans spend more than two million dollars a day of the concert Taylor Swift.

“These numbers are simply incredible. If Taylor Swift was an economy, it would be more than GDP 50 countries. If she were a corporation, her Net Promoter Score rating would make her fourth most popular brand of the world, ” says Dan Flitwood, head of QuestionPro Research and Insights.

Indeed, five billion that local entrepreneurs will receive after concerts can be compared with the nominal GDP of 45 countries of the lower part of the rating of the International Monetary Fund (most of them are undeveloped and developing states). For example, the revenue of businessmen after concerts Taylor Swift turned out to be more than the nominal GDP of one of the Russian allies - Eritrea. This indicator also overtook GDP Grenada, Liberia, Samoa, TsA, Andorra and San Marino. The last two are one of the smallest countries in the world, but nevertheless there are sufficiently developed European states. And if Taylor Swift is compared with the brands in the consumer loyalty index (NPC), then in the top 5 she would compete with Apple and Ritz-Carlton luxury hotels.

All -salary ticket

A concert ticket is a fairly expensive pleasure. On average, they cost $ 253, the cheapest - around $ 50. Tickets are quickly sold out at official venues, so fans have to turn to resellers who resell them on average for four thousand dollars. Some ordinary tickets were resold even for 28 thousand dollars, and the price reached the best places and up to 200 thousand.

The increase in ticket prices is a world trend that applies not only to Taylor Swift level stars. The average price of a ticket for the 100 most popular tours of North America over the past two decades has grown almost 4 times: from $ 25.81 in 1996 to $ 91.86 in the first half of 2023. Ticket inflation has affected all categories, including the most affordable to a wide audience.

Ordinary fans of Taylor Swift from the United States said that they spent money on her concerts that had been saved for several years. 24-year-old caresses and her mother, the owners of the Capital One Bank card, which made it possible to buy a ticket for $ 49 during pre-sale. But they did not have time to redeem cheap tickets, and they had to take those that remained - two thousand dollars for a ticket. For the sake of such a affection, she withdrew three thousand dollars from her savings account, and her mother paid the hotel and the flight, as well as the remaining thousand for tickets. According to statistics , a typical fan of Swift during the tour spent about $ 720 more than his planned budget. And the total average expenses of the fan amounted to 1327.74 dollars.

Tickets are valued because official striming does not bring enough money to the artists. The fault is the spread of piracy, thanks to which you can listen to any song for free. It is necessary to make up for income at the expense of concerts and shows. For a couple of concerts, Beyoncé and Taylor Swift can earn more money than for a year of album sales. In addition, for many years, speculators resell tickets for concerts at a much higher price - and fans bought them anyway. The agents perceived this as a certificate of low prices and the fact that their artists are underpaid with stably high demand.

Madness for export

The exciting demand for tickets that the resellers actively use were forced to adapt large ticket markets: Ticketmaster and AXS introduced a technology that proved that the fans are ready to pay any money in order to see their idol live, especially if it is a concert of a performer that performs once every few years. The website Ticketmaster analyzed the behavior of the resellers and decided to adopt their methods.

Ticketmaster and other sites are now changing ticket prices depending on demand. For example, if tickets are still left by the concert day, the company has the right to reduce prices and thus sell the remains. Also, the practice of introducing privileges for “real fans” is often used: for example, tickets for owners of certain cards and subscriptions are received earlier than all by all.

However, even these methods did not work to restrain the frantic demand for tickets. In November, during the start of sales, the Ticketmaster website could not stand the influx of fans and literally broke . As a result, many people could not buy tickets, and some had to spend up to six o’clock in an electronic queue at all . The victims of the site collapse even sued the TicketMaster maternal company. Ticketmaster later issued an official apology to fans for the system problems and explained that the site was faced with the unforeseen high influx of users and simply could not stand it - the total number of system requests was a record 3.5 billion clicks. On the opening of the pre -sale, the service sold more than two million tickets - an absolute record for all the time of observation.

“Based on the volume of traffic on our website, Taylor will need to give more than 900 concerts at the stadium (almost 20 times more than it planned). That is, one show at the stadium every evening for the next 2.5 years, ”the TicketMaster statement said . Indeed, there are so many fans at the Swift concerts that once the singer’s performance in Seattlecaused a seismic activity equivalent to an earthquake by a force of 2.3 points. Even world politicians recognize the economic effect of Taylor Swift. The singer was already called the mayor of Budapest Gergea Karachon, Prime Minister of Canada Justin Trudeau and President Chile Gabriel Borich.

“It's me, hello. I know a couple of places in Canada, where they would like to see you. So, do not arrange another cruel summer. We hope to see yourself soon! " - wrote Trudo on Twitter, making a couple of references to the songs of Taylor Swift.

For those who do not have the opportunity to attend a concert, there is also a way out - in October, the movie theaters were published in the Taylor Swift: The Eras Tour. This is not an artistic or documentary film (although Swift also has one), but just a professional recording from the three August concerts of Eras Tour in California. The tape goes almost 3 hours. The father of singer Scott Swift chose a non -standard strategy for the spread of the film: he did not contact the Hollywood studios and agreed on the show directly with the cinemas of the AMC company. As a result, the Swift family will share the revenue from the film with cinemas without any intermediaries.

An adult ticket costs $ 19, for children - $ 13. Preliminary sales of tickets around the world raised more than $ 100 million (for comparison: Barbie gained 162 million in the first five days). Sales on the first day in cinemas of AMS reached a record $ 26 million. The recording of the concert of Swift broke the record installed in this network of cinemas with the film "Spider-Man: There is no way home." In 2021, the Marvel tape raised almost $ 17 million on the first day.