Last Updated on December 27, 2023 by Robert C. Hoopes
Taylor Swift, the pop sensation, has been named CNN’s Businessperson of the Year for 2023 due to her immense economic power. Swift’s “Eras” tour proved to be a game-changer as it not only sold out stadiums worldwide but also became the biggest tour in StubHub’s history.
Estimates suggest that the tour has already grossed over $1 billion, with projected revenue in North America alone exceeding $2 billion. This astounding success can be attributed to the aggressive bidding by fans on the resale market. In fact, the average resale price of an “Eras” ticket reached $1,607, marking a staggering 741% increase from her previous tour.
One of the standout moments of Swift’s journey was when she rewarded her tour truck drivers with $100,000 bonuses. This gesture showcased her generosity and appreciation for her hardworking team.
Not only did the “Eras” tour have a significant impact on Swift’s bank account, but it also had a ripple effect on local economies. With hotel rooms filling up fast, concertgoers proved to be a boon for retailers seeking to cash in on the merchandise frenzy.
Swift’s business acumen was evident in her merchandising strategy. By allowing fans to bring home memories of the tour, she generated significant revenue. This approach, combined with the tour’s success, made her an undeniable force in the business world.
To further solidify her domination, Swift released a film titled “Taylor Swift: The Eras Tour,” which shattered records for a concert film by earning a staggering $96 million in its opening weekend. This accomplishment earned her widespread recognition and good publicity, including being named Time magazine’s Person of the Year.
With her immense economic power, Taylor Swift has proven to be not just a superstar in the music industry but also a savvy businesswoman. Her “Eras” tour has not only left an indelible mark on the entertainment world but has also solidified her as a force to be reckoned with in the business realm.