Amy Sussman / Staff
Taylor Swift Hits Billionaire Status Amid Release of ‘1989 (Taylor’s Version)’ and Eras Tour
Taylor Swift has entered her billionaire era.
As the 12-time Grammy Award winner, 33, released her latest rerecorded album, 1989 (Taylor’s Version), Bloomberg News reported that her net worth has surpassed $1.1 billion.
“Swift Inc. is essentially a multinational conglomerate with the world’s most devoted customer base, its most charismatic CEO and significant economic power,” the article published Friday, October 27 read.
According to the analysis, Taylor’s record-breaking Eras tour added $4.3 billion to the country’s gross domestic product.
The report, which the publication called “the most definitive account yet of the pop star’s wealth,” said the 53 Eras tour dates so far earned over $700 million in ticket sales. This does not include profits from the concert film – which has already raked in over $178 million at the box office – or the 89 remaining shows on the international leg of her tour, which kicks off in South America next month.
The pop superstar’s net worth is likely much higher than the report estimated. The publication arrived at the $1 billion figure after calculating “assets and earnings that could be confirmed or traced from publicly disclosed figures.”
To determine Taylor’s billionaire status, Bloomberg analyzed the value of her music catalog and five homes, as well as profits from music sales, streaming, concert tickets and merchandise. The singer’s income tax, touring and travel costs and payment to her employees were also taken into consideration by the publication.
These new stats suggest that the “I Know Places” singer is “one of the few recording artists to build a 10-figure fortune almost entirely from her music,” according to the article.
Taylor’s Eras tour has generated as much money as the economies of small countries, the outlet said. And as the concert film continues to dominate the box office, her re-recording of her nine-year-old album, 1989, is expected to be one of the best-selling records of the year.
“Her prolific songwriting, negotiations around streaming and shrewd decision to re-record her first six albums have enabled her to create massive financial success at a time musicians have lost clout in the industry,” the report read.
Bloomberg pointed out that social media has allowed the “Blank Space” singer to connect with her fans and market her music and merchandise more easily than previous cultural icons, naming Madonna and Michael Jackson as examples.
“The close relationship she’s cultivated with her millions of ardent fans has led to a more unified demographic than just about any political party, evidenced by the swapping of beaded Swift-inspired friendship bracelets that’s become a universal rite among concertgoers,” Bloomberg said.
The article added about Taylor’s relationship with her devoted fans, “She also has a candid and chatty repartee with her millions of predominantly-young fans who’ve grown up with the 33-year-old singer in an age where trust and intimacy is established online quite naturally.”
