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Taylor Swift reaches billionaire status amid 'Eras' tour success

By JUSTINE PUNZALAN Published Oct 27, 2023 9:45 pm

Global pop star Taylor Swift continues to beef up her wide-ranging portfolio with the addition of another title on her list: billionaire.

According to a Bloomberg News analysis, Swift's total net worth is now at $1.1 billion (P626 billion), making her one of the few musicians to earn the status based solely on music and performances.

The 33-year-old music megastar accomplished the feat, all thanks to the massive success of her "Eras" tour that boosted the US economy this year.

With a ticket priced $254 (P14,500) on average, Swift's 53 concerts in the U.S. have added $4.3 million (P245 million) to the country’s gross domestic product, according to the outlet. Meanwhile, total sales of shows performed to date are expected to exceed $700 million (P40 billion).

Apart from filling up stadiums across the globe, Swift's income has skyrocketed from sales of her song catalog, music streams, and the value of her real estate.

According to Bloomberg, the Look What You Made Me Do hitmaker has so far earned $400 million (P22.8 billion) from her song catalog, $370 million (P21 billion) from concert tickets and merchandise, $120 million (P6.8 billion) from Spotify and YouTube streams, and $80 million (P4.6 billion) from music royalties.

Not only that, her five personal properties—which include mansions in Nashville and Kennedy—are valued at $110 million (P6.3 billion).

Swift's earnings are expected to grow even further, with the release of her concert film, Taylor Swift: The Eras Tour, earlier this month. Movie theater chain AMC reported that Swift's movie has set box office record with sales amounting to $96 million (P5.5 billion) in the U.S. and Canada during opening weekend.

The concert film also made about $32 million (P1.8 billion) internationally and topped the box office in the Philippines, United Kingdom, Mexico, and Australia.

However, Swift's global influence has been advantageous not only for her own career but more so, the economy of the cities she has visited. There was an uptick in ridership on public transport leading to her concerts in Chicago, Atlanta, Philadelphia, and New Jersey, as well as a 7% increase in the average revenue of hotels in her stops.

The pop icon's budding romance with National Football League star Travis Kelce has likewise led to an uptick in ticket sales for the games. According to online marketplace TickPick, ticket prices for the Oct. 1 game of the Kansas City Chiefs jumped from $83 to $119 after Swift was rumored to attend the event.

Swift now joins the ranks of fellow musician Rihanna who catapulted to billionaire status in 2021 and couple Jay Z and Beyoncé who reached the milestone in 2017.