Taylor Swift has “monetized her talent” during a time when “artists have lost millions” as a result of technological advancements.
Swift’s net worth surpassed $1 billion in October, according to Bloomberg, with the Eras Tour and recent re-evaluations of her albums propelling the pop star to $1.1 billion.
According to the publication, the “1989” singer-songwriter is among the select few artists to have accomplished this level of success solely through music releases and performances.
Taylor possesses a distinctive advantage with regard to capitalizing on her talent. “In a time when album sales have led to the loss of millions for artists due to digital downloads, she is riding the tech wave rather than going out with the digital tide,” branding expert Doug Eldridge told FOX Business.
In March, Swift, age 33, debuted the Eras Tour in Arizona. She spent the entire summer touring the United States, concluding the initial phase of the journey in Los Angeles in August. Forbes reported that the tour, which includes stops in foreign countries, is anticipated to generate $1.5 billion in revenue, contingent upon ticket pricing.
“[The Eras Tour] is not only the largest domestic tour gross in U.S. history — which generated an eye-popping $4.6 billion in consumer spending — but will also surpass $1 billion on the international leg of Eras, making it the largest tour in world history,” Eldridge stated.
Swift also conducted a tour on a large screen. “Taylor Swift: The Eras Tour” grossed $92.8 million during its inaugural weekend after making its exclusive theatrical debut on October 13. Fans can exclusively view the concert film in theaters until December 13, which encourages ticket purchases.
However, “Taylor Swift: The Eras Tour” will become available for rental on streaming platforms on December 13.
“Well, so, basically I have a birthday coming up and I was thinking a fun way to celebrate the year we’ve had together would be to make The Eras Tour Concert Film available for you to watch at home!” Swift shared the news via social media. “Very happy to be able to tell you that the extended version of the film including ‘Wildest Dreams,’ ‘The Archer’ and ‘Long Live’ will be available to rent on demand in the US, Canada & additional countries to be announced soon starting on… you guessed it, December 13.”
Swift’s concert film will likely become available to subscribers as regular content on a streaming platform, similar to how “Taylor Swift’s Reputation Stadium Tour” is available on Netflix.
Swift has essentially revolutionized the music industry for women, according to author of the forthcoming book “From the Battlefield to the Boardroom” and retired U.S. Army Major Dr. Sonja Stribling.
“Her success is not solely about the financial gain she is attaining; rather, she is establishing an exemplary example for others to emulate,” Dr. Stribling explained to FOX Business. “I am certain she and Beyoncé have discussed this, given their influential status that sets an example for others to emulate.” They are the first of many to lead the way, particularly among women. Taylor is not only poised to attain billionaire status, but also to establish himself as an icon of setting lofty objectives for others to aspire to.
“I know that only 1% of this population in the industry that she operates in, and maybe even less than that, will achieve what she has achieved, and she makes it look so simple,” according to her.
“In this digital age, the “Midnights” singer-songwriter is not only discovering new methods to make money, but she is also establishing a “legacy,” Dr. Stribling told FOX Business.
READ MORE: The Documentary “Taking On Taylor Swift” Premieres On Max Tomorrow
“It is way beyond billions — it’s a legacy that she is building for her to go down in the books of being the first or one of the firsts,” according to her. “Because she began dating an NFL tight end (Travis Kelce of the Kansas City Chiefs), I cannot even watch a football game without them showing Taylor Swift’s boyfriend.” Everything at stake is a reputation.
“Scaling beyond the numbers of billionaire status — she happens to be extremely talented in what she does, but she’s also doing some things that the other 99% just will not do and will not even come close to doing.”
Swift also places her admirers first in her mind.
“Easter eggs” are frequently hidden in the songs, music videos, social media postings, and occasionally the pop star’s attire as a way to hint at forthcoming music or other events. Her admirers have transformed the “Easter Eggs” into intellectual challenges in an attempt to decipher them.
According to Dr. Marcus Collins, author of “For the Culture,” Swift’s billionaire status has been made possible by her music and fan base, as reported by FOX Business.
“When a musical artist ascends to billionaire status, it’s typically because of their portfolio diversity, endorsements and other branded products,” Dr. Collins explained.
“However, Taylor has amassed the majority of this wealth through the influence of her community’s network effects and the strength of her community,” the University of Michigan marketing professor continued. “Throughout her career, Taylor has nourished her community. Despite the success of her singles, she continued to invest in small, intimate performances for her fans, the Swifties. “Her investment in this community is presently bearing fruit—possibly dividends worth a billion dollars.”
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