A New Era of Entertainment
- Josie Mills
- Sep 22, 2023
- 3 min read
By: Josie Mills
Perhaps, on a recent scroll through social media, you’ve seen videos of countless fans screaming along to Taylor Swift’s iconic lyrics as the star takes a diamond-shaped stage. These videos are taking the internet by storm, spreading the latest wave of craze around the artist’s music. But what exactly are these videos all about?
If you ask any Taylor Swift fan, they could let you know in a heartbeat. These videos all have one thing in common – they’re from her current world tour, the Eras Tour. And unsurprisingly, her ultra-supportive fans are causing quite the impact – the economic one, that is.
The Eras Tour is Swift’s newest lineup of worldwide concerts. Each show is a three to three-and-a-half-hour endeavor with songs being performed from all of her albums. The tour has caused a buzz among Swift’s fans, commonly referred to as Swifties, around the globe. Loyal fans from far and wide are traveling to her shows, and what do fans – like any traveling groups – bring to the places she performs? One word: money.
A positive economic impact has been following Taylor Swift wherever she goes on the Eras Tour. When concert venues are sold out, hotels are brimming with guests, local attractions are bringing in people left and right, and restaurants are packed with hungry concertgoers. Hence, with economies struggling to right themselves after the Covid-19 pandemic, Swift’s large draw certainly provides a welcome reprieve for local businesses still feeling the negative impacts of the pandemic.
Taylor Swift performing at the Eras Tour. Source: https://www.rollingstone.com/music/music-lists/best-taylor-swift-eras-tour-moments-1234807544/
In Pittsburgh, when Swift made her Eras Tour stop on June 16 and 17, 2023, fans and Allegheny County residents spent approximately $46 million in relation to her shows. Additionally, in terms of overall performance, her tour is predicted to gross $1.4 billion in revenue. However, the profit does not stop there. Even those who cannot make it to Swift’s show in person can view the Eras Tour concert film in theaters starting on October 13, 2023. On her trend of economic impact, Swift broke AMC Theaters’ record for the most advance ticket sales revenue in one day with $26 million. With such breathtaking numbers, one cannot help but wonder about the possibilities that could be achieved by having entertainment events of such magnitude on a more frequent basis.
Yet, what exactly is making the Eras Tour so successful? If we step back and take a look at the entertainment industry of summer 2023, it becomes quite clear. Women have taken the stage, as well as the big screen, to a degree like none before, and these women just so happen to be catering to fellow females in the crowd.
Swift, Beyonce, Barbie – the list goes on and on. These women represent a new tidal wave of entertainment geared toward female audiences. The entertainment industry as a whole has a massive opportunity at hand for catering to a female fanbase that rarely has such massive levels of entertainment come its way. I believe that as the industry moves forward, we will see a sizable increase in the amount of concert and film entertainment garnered toward women.
The proof of success is in the numbers, with Swift making an economic impact large enough to be recognized by the Federal Reserve. It's now up to the industry to follow the women paving the way.
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