In Inglewood, California, on August 9, 2023, Taylor Swift put on an amazing performance during her “Taylor Swift | The Eras Tour”. It’s no secret that Taylor Swift is incredibly popular, and her popularity seems to be having a positive effect on stock prices. Recently, CTS Eventim AG reported a surge in their shares thanks to strong advance ticket sales for Swift’s tour. Just a few hours later, AMC Entertainment Holdings announced that they had sold over $100 million in advance tickets for the concert movie, causing their shares to rise as much as 5.7% on Friday. It’s clear that Taylor Swift’s impact extends beyond just the music industry.
AMC stated that there has been a great demand for the Taylor Swift The Eras Tour concert film since it was announced. In just one day of its release, the company recorded the highest ticket revenue in its 103-year history.
According to Bloomberg Economics, the Swifties and fans of Beyoncé have contributed $5.4 billion to the US economy in the third quarter through their spending on concerts. A typical Swiftie spends approximately $1,500 on attending a concert, which includes expenses for tickets, accommodations, travel, and food.
From October 13, the Eras Tour concert movie will be shown in approximately 8,500 theaters located in over 100 countries. This theatrical release follows the successful two US tour legs that were attended by over 3 million fans. Swift’s worldwide performances are projected to generate $1 billion in revenue.