Taylor Swift’s already enormous celebrity power and wealth increased significantly as a result of the amazing success of the Eras tour.
Swift has already joined the 10-figure club, according to an investigation by Bloomberg, which manages the Bloomberg Billionaires Index. Based on its calculations, Swift’s net worth is roughly US$1.1 billion.
The publication states, “She’s one of the few performers to achieve that status based solely on music and performing, the result of work and talent, but also astute marketing and timing.”
Swift isn’t the first artist to earn a billion dollars. However, if we take a look at musicians like Jay-Z and Rihanna, they have combined their successful music careers with entrepreneurial endeavors to reach their astronomically high net worths.
Jay-Z holds shares in several liquor companies, acquired the music streaming service Tidal in 2015, and has a sizable collection of expensive real estate and fine art. In 2017, Rihanna launched Fenty Beauty, which soon rose to prominence as one of the most sought-after cosmetics companies.
According to Bloomberg, Swift owns five properties totaling approximately US$110 million in real estate. However, the value of her songs, record sales, concert ticket sales, and merchandising sales account for the remaining portion of her net worth.
“Bloomberg’s analysis is conservative and based only on assets and earnings that could be confirmed or traced from publicly disclosed figures, despite the abundance of estimates of Swift’s Eras profits,” the outlet adds.
Taxes, fees, and commissions to managers and agents were also taken into account by Bloomberg.
So what is the breakdown of Swift’s finances?
According to Bloomberg, the value of her discography since 2019 is roughly US$400 million, which is not far below the US$550 million that Bruce Springsteen sold for, making it the greatest deal of its kind.
When the contentious music businessman Scooter Braun acquired Swift’s former record company, Big Machine, in 2019, the masters of Swift’s first six albums were probably sold to him. This explains why Bloomberg only examined Swift’s songs from that point on.
Swift started trying to re-record her older albums because she was upset that Braun had acquired the rights to her masters, which reduced the value of her original masters and gave her fans more music to purchase.
Swift’s hit album 1989’s “Taylor’s Version” was made available on Friday.
According to Bloomberg, Swift has earned almost US$80 million in royalties from that corpus of work.
However, the sales of tickets and souvenirs from her wildly popular Eras tour and her previous tours are what boost the pop star’s net worth. According to Bloomberg, that amount is an astounding US$370 million.
However, Swift made more money from the Eras tour alone than from all of her prior tours combined—$225 million.
Anyone who has followed the Eras tour and the remarkable economic impact it has had in the cities where it stops should not be surprised by this.
“May was the strongest month for hotel revenue in Philadelphia since the onset of the pandemic,” the Federal Reserve reported in a July report. “This was largely due to an influx of guests for the Taylor Swift concerts in the city.”
An estimated US$140 million was added to Colorado’s GDP during the artist’s two-show engagement, as reported by the Common Sense Institute.
According to the analysis, Taylor Swift’s U.S. tour could bring in $4.6 billion in total consumer expenditure, which is more than the GDP of 35 nations.
The Common Sense Institute estimates that the U.S. leg of the Eras tour contributed US$4.3 billion to the GDP of the nation; Bloomberg’s estimate is somewhat lower. 53 concerts yielding all that money.
Additionally, Swift released a concert video from her Eras tour featuring footage from her event. It opened the weekend with box office receipts of US$92.8 million.
Swift made sure to thank the crew workers who helped make her record-breaking tour possible with this amazing cash flow. She gave out incentives totaling over US$55 million in July to the riggers, drivers, chefs, dancers, and other employees of the Eras tour.