Even if you’re not a Swiftie, it’s nearly impossible to escape the hype surrounding Taylor Swift’s new album, tour, and movie. In fact, some would argue that she is the economic story of 2023. On the opening night of The Eras Tour at State Farm Stadium, the concert brought in more revenue for local businesses than Superbowl LVII held a month earlier in the same stadium. Even the Federal Reserve Bank of Philadelphia weighed in, reporting that the pop star boosted travel and tourism in the region due to an influx of guests for her concerts, a claim made by several other U.S. cities.
More broadly, market research firm QuestionPro this summer projected that the tour could generate close to $5 billion in consumer spending in the U.S. alone. Fans are spending big money not only on concert tickets, but also on travel, lodging, food and beverage, clothing, and concert swag. And the U.S. economic impact likely will grow as the concert film releases this weekend. AMC already has reported blockbuster presales exceeding $100 million, and the film is widely expected to surpass that amount in its opening weekend and beyond.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.