Behind Taylor Swift’s influence on marketing, the economy and culture

Taylor Swift’s colossal economic and cultural impact over the past year has proven something that her devout fans, known as “Swifties,” have been insisting for years: It’s Taylor Swift’s world, and we’re just living in it. Throughout 2023, the singer-songwriter rapidly evolved from purely a successful pop star into a financial powerhouse shaping the economies of not only the U.S. but also those of several other countries across Europe, North and South America and Asia. Much of Swift’s surging influence this year, playfully dubbed “Taylornomics” or “Swiftonomics,” can be attributed to her ongoing Eras Tour, which kicked off in March and is set to run through December 2024. Eras Tour ticket sales have already topped $1 billion, making it the highest-grossing concert tour of all time, per live music trade publication Pollstar. The massive tour has impacted everything from the local economies of the concert-hosting U.S. cities to the curricula of universities such as Harvard and Berklee College of Music, which now offer courses on Swift’s discography and literary influences and her songwriting techniques, respectively. Last week, Time magazine named Swift its “2023 Person of the Year,” the second time she has earned the honor (2017), making her the first woman to be named Person of the Year twice. Subscribe to us on Apple Podcasts, check us out on Spotify and hear us on Stitcher. This is our RSS feed. Tell a friend! See our 2023 Marketers of the Year here The Federal Reserve Bank of Philadelphia attributed the “strongest month for hotel revenue in Philadelphia since the onset of pandemic” to the influx of Eras Tour attendees in May. In June, online survey and research platform QuestionPro projected the total economic impact of the Eras Tour would reach $5 billion, driven in part by consumer spending on tickets, clothing, merchandise and travel—which the platform found averages at just over $1,300 per concertgoer. “If Taylor Swift were an economy, she’d be bigger than 50 countries,” wrote QuestionPro President Dan Fleetwood in the report. “If she was a corporation, her Net Promoter Score would make her the fourth most admired brand, and her loyalty numbers mimic those of subjects to a royal crown.” (A number of Swifties do regularly refer to the artist as their “queen.”) Also read: Taylor Swift is everything a brand wishes it was Fans’ fierce loyalty to Swift became evident in their desperation to secure concert tickets, which spurred Ticketmaster’s Eras Tour fiasco at the end of 2022. The flood of Swifties simultaneously rushing Ticketmaster during the tour’s pre-sale (the company later reported it received 3.5 billion system requests and sold more than 2 million tickets in a single day) caused glitches in the platform’s ticketing system and quickly depleted Ticketmaster’s ticket inventory before the public sale even began. Some Swifties ultimately resorted to drastic measures to afford inflated ticket prices from resellers—including one who said she sold her car. @maluwren i do not have a single regret #tstheerastour #theerastour #swifttok ♬ Maroon - Taylor Swift Just over 50% of U.S. adults, roughly 130 million people, identified as fans of Swift in a March survey conducted by Morning Consult. Yet those numbers are likely much bigger now, according to brands analyst Ellyn Briggs. “Every month, every week and every day of this year, Taylor was in the news,” she said. “The world that she’s created with her songs, her products and her presence is so big that if she wanted to, 365 days a year she could release something that fans would want to buy or engage with online. It’s just this combination of her undeniable star power and her willingness to put herself out there with such a frequent cadence.” In addition to the Eras Tour, Swift provided fans with two album re-recordings: “Speak Now (Taylor’s Version)” in July and “1989 (Taylor’s Version)” in October. Both helped propel her to the top of Spotify’s ranking of most-streamed artists in 2023 at more than 26 billion global streams. View this post on Instagram A post shared by Taylor Swift (@taylorswift) “The reason why her fan base is so strong right now is she has been coming at them with both barrels,” said Tonya Butler, chair of the music business and management department at Berklee College of Music. “They are being inundated with things that are valuable to them. They are being inundated with content and messaging. And it’s almost irresistible.” See our 2023 Marketers of the Year here Spreading the Swiftie love Swift’s enormous influence also extended to two entities lucky enough to be associated with the pop star this year: AMC Theatres and the NFL. The former partnered with Swift to distribute a concert film of the Eras Tour titled “Taylor Swift: The Eras Tour,” which shattered box office records for the genre by raking in $93 million in just its opening weekend in the U.S. As of Nov. 27, the film had crossed the $250 million mark worldwide. Also read: “Taylor Swift: The Eras Tour” to boost movie ad business “What can we say of our gratitude to Taylor for [choosing] AMC to distribute her Eras Tour concert?” said AMC Chairman, President and CEO Adam Aron on a recent earnings call. “AMC benefited handsomely, both reputationally and financially, from our having taken on this project, and that benefit will not be a one-time thing.” View this post on Instagram A post shared by AMC Theatres (@amctheatres) The NFL, too, saw tangible benefits from its relationship with Swift—or, perhaps more accurately, Kansas City Chiefs star Travis Kelce’s relationship with the singer. Swift’s surprise appearance at a Sept. 24 Chiefs game to watch then-rumored boyfriend Kelce play sparked a social media frenzy. Swifties swapped gossip on X, formerly Twitter, and TikTok about the potential relationship with the star tight end, and tuned into the game to catch glimpses of the pop star. Also read: Inside the NFL’s Taylor Swift era That game was the most-watched NFL match that week with 24.3 million viewers, owing in part to a surge in female viewers, per Fox Sports. The NFL capitalized on Swift’s appearance at the game, frequently cutting the camera to shots of Swift cheering on Kelce alongside his mother and sharing a rush of social media content featuring those clips. “When you’re watching an NFL team play and you see more of Taylor Swift than you do the players on the field, that’s when you know she has the power of a true brand,” Butler said. Swift’s influence is “unlike anything” Ian Trombetta has seen in “the last 20 years,” the senior VP of social and influencer marketing for the NFL told Ad Age’s Tim Nudd earlier this year. @nfl taylor is having some fun ❤️🔥 #taylorswift #traviskelce #kansascitychiefs #nfl ♬ original sound - NFL The game also became a pivotal social media marketing moment, with brands including Arby’s, Heinz and even Merriam-Webster capitalizing on a meme that emerged during the game from a Swift fan account commenting on Swift’s choice of dipping sauces during a meal at the stadium. Look back: Brands respond to Swift and Kelce’s relationship But Swift’s influence has seeped into brands’ marketing far beyond that September NFL game. Duolingo sent its owl mascot to one of Swift’s concerts, while Dunkin’ embraced Swifties’ friendship bracelets, a staple of the Eras Tour, by collaborating with jewelry company Little Words Project. View this post on Instagram A post shared by Dunkin’ (@dunkin) “Taylor is so ubiquitous now that you can’t not post about her if you’re a brand and want to be part of conversations online,” Briggs said. “She’s definitely dictated not only how people are spending their time and money, but how brands are spending their time and money, too. She’s almost providing them creative briefs, if you will.” See our 2023 Marketers of the Year here

Behind Taylor Swift’s influence on marketing, the economy and culture

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