Beautiful Virgin Islands

Tuesday, Feb 20, 2024

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.

Newsletter

Related Articles

Beautiful Virgin Islands
EU and UK Announce Joint Effort on Migration
I have a dream, MLK inspiring speech
Brazil's Lula Likens Gaza Operation to Holocaust, Israel Says "Red Line" Crossed
Aretha Franklin, Marvis Staples - Oh Happy Day
Ministers Confirm Proposal to Prohibit Mobile Phone Usage in English Schools
BVI Freedom Song
Microsoft-backed OpenAI valued at $80bn after company completes deal
Billy Preston - You Can't Beat God Giving (Live)
‘Alexei would want to tell Russia not to give up fighting’
VIRGIN ISLANDS REGGAE CARIBBEAN RIDDIMZ
Rwandan Footballer's Dismissal Sparks Concerns Over UK Asylum Plan
Oh Happy Day Edwin Hawkins - Anthony Brown w FBCG Combined Choir
Whisky Challenges China's Baijiu Market During New Year Celebrations
'Stand by Me' performed by Karen Gibson and The Kingdom Choir
Avdiivka - Symbol Of Ukrainian Resistance Now In Control Of Russian Troops
National Anthem of the British Virgin Islands - Oh, Beautiful Virgin
Putin Critic Alexei Navalny's "Killers" Refusing To Hand Over Body, Say Allies
Hello Dolly
"Historic Step": Zelensky Signs Security Pact With Germany
for KING & COUNTRY - Amen (Reborn) [feat. Lecrae & The WRLDFMS Tony Wi
"Historic Step": Zelensky Signs Security Pact With Germany
Bob Marley - Get Up Stand Up
20 Tech Giants Sign Effort To Fight AI Election Interference Across Globe
Yes He Can
Joe Biden Accuses Putin of Causing Navalny's Death
What A Friend We Have In Jesus
Russian opposition leader Alexey Navalny has died at the Arctic prison colony
Unforgettable
Tucker Carlson grocery shopping in Russia. This is so interesting.
Touch The Hem Of His Garment
Julian Assange's Wife Warns of His Death if Extradited to US
The Lord's Prayer
‘A lot higher than we expected’: Russian arms production worries Europe’s war planners
THE GOD MOVEMENT...BEAUTIFUL BVI
Greece Legalizes Same-Sex Marriage and Adoption Rights
Siyahamba
Hungarian Foreign Minister: Europeans will lose Europe, the Union's policy must change drastically
Ray Charles And The Voices Of Jubilaton, Oh, Happy Day
In Britain Homeowners are receiving CPO’s (Compulsory Purchase Orders) so their homes can be redistributed to migrants
Ramblin' Rose
Microsoft says it caught hackers from China, Russia and Iran using its AI tools
Protoje - Who Knows ft. Chronixx
Influencers Exploit X Platform for Profit Amidst Israel-Gaza Conflict
Pressure - Virgin Islands Nice
Former Dutch PM And Wife Die "Together Hand In Hand" Via Duo Euthanasia
Phil Wickham - House Of The Lord
Media Giant Paramount Global, Which Owns CBS News, To Cut 800 Jobs
My God Is Real (Yes, God Is Real)
US Rejects Putin's Ceasefire Offer in Ukraine
The Lion King Circle of Life by LEBO M. — LIVE at the HAVASI Symphonic
"History is Watching": Biden Encourages US House to Approve Ukrainian War Aid
Louis Armstrong - When The Saints Go Marching In
Wolf! Wolf!: Joe Biden Joins TikTok Despite Washington's Security Risk Warnings
Kanye West Sunday Service - hallelujah, salvation, and glory
A Londoner has been arrested for expressing his Christian beliefs.
Jonathan Nelson - I Believe (Island Medley
Chinese Women Favor AI Boyfriends Over Humans
From The Virgin Islands Sqad Up
Kylie Minogue to receive Brits global icon award and will perform at ceremony
Common, John Legend - Glory
Greece must address role in migrant vessel disaster that killed 600: Amnesty
Anthony Evans vs. Jesse Campbell - If I Ain't Got You
Russian Oligarch's Seized Yacht Costs More Than $7 Million A Year To Maintain: US
I have a dream, MLK inspiring speech
Bitcoin Reaches $50,000 for First Time in Over Two Years
Aretha Franklin, Marvis Staples - Oh Happy Day
Travis Kelce's First Words to Taylor Swift After Winning the Super Bowl Have Us Swooning
BVI Freedom Song
Google pledges 25 million euros to boost AI skills in Europe
Billy Preston - You Can't Beat God Giving (Live)
Israel deploys new military AI in Gaza war
VIRGIN ISLANDS REGGAE CARIBBEAN RIDDIMZ
After Mona Lisa, Climate Protesters Throw Soup at Monet Painting
Oh Happy Day Edwin Hawkins - Anthony Brown w FBCG Combined Choir
Israel Utilizes AI Military Technology in Gaza Conflict
'Stand by Me' performed by Karen Gibson and The Kingdom Choir
Greta Thunberg Joins Banned French Anti-Motorway Protest
National Anthem of the British Virgin Islands - Oh, Beautiful Virgin
Dragons: A 4000-Year Saga of Enigma and Luck
Hello Dolly
Organizer of Dover Tractor Protest Warns of Potential Escalation
for KING & COUNTRY - Amen (Reborn) [feat. Lecrae & The WRLDFMS Tony Wi
This might be the funniest clip on the internet involving Cristiano Ronaldo
Bob Marley - Get Up Stand Up
Activist crashes Hillary Clinton's speech, calls her a 'war criminal.'
Yes He Can
In El Salvador, the 'Trump of Latin America' stuns the world with a speech slamming woke policing after winning a landslide election
What A Friend We Have In Jesus
Trudeau reacts to Putin's mention of Canadian Parliament applauding a former Ukrainian Nazi in his interview with Tucker Carlson.
Unforgettable
The Spanish police blocked the farmers protest. So the farmers went out and moved the police car out of the way.
Touch The Hem Of His Garment
Cruise lines sailing into 2024 seeing strong demand, AAA says
The Lord's Prayer
Arm CEO talks growth as stock rallies on AI-fueled demand
THE GOD MOVEMENT...BEAUTIFUL BVI
British PM Rishi Sunak Paid More Than 500,000 Pounds In Tax Last Year
Siyahamba
Tesla trails Ford and GM in revenue generated per worker
Ray Charles And The Voices Of Jubilaton, Oh, Happy Day
×