The singer is rumored to be demanding at least 100% of the gross ticket revenue
Her tour Taylor Swift in the UK is expected to bring nearly £1 billion to the British economy!
Almost 1.2 million fans of the singer will spend an average of £848 (about €988) on tickets, travel, accommodation, clothes, meals and more to go and see the ‘Queen of Pop’, more than twelve times of the cost of an ordinary exit.
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“Baby, let the games begin…”. Lyrics from her song “Ready For It?” they may reverberate across Europe – and beyond – as ‘Swiftonomics’ hits Europe.
Over the past year, Swift’s “Eras” tour and accompanying film have cemented her financial supremacy in the United States, pumping billions into the economy.
Local businesses see Swift’s impact weeks before her concerts. The artist doesn’t appear in Italy until mid-July, but the hotels are already booked!
“Our analysis and data show that hotel prices in Milan are on average 45% higher for the nights of Taylor Swift’s concerts in the city in July 2024, compared to the weeks before and after the show”, according to Ben Julius, founder of the tourist company “Tourist Italy”. Julius added that those who come for her concerts only stay for two nights on average, but the mass demand is pushing tourists to find other places to stay.
European economists are watching her tour to see what impact it will have on the European economy. European Central Bank officials cut interest rates this month, but there are concerns that Swift’s arrival in several cities could trigger another rise.
Because when Swift visits a city, she gathers tens of thousands of fans who will spend money on a variety of services, including restaurants, lodging and local attractions. Some ‘Swifties’ will travel hours – and to other countries – to attend a concert, which creates demand for airline tickets and other transport options.
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It’s worth noting that Taylor Swift makes money by smartly leveraging her market power. It’s about the so-called Swiftonomics.
The singer is rumored to demand at least 100% of the gross ticket revenue, which means her concert promoters can only make a profit from food and drink sales and other extras. That’s why organizers want those with coveted Swift concert tickets to get to the venue early. The financial prudence displayed by the artist is part of the charm she exerts on her fans.
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Source :Skai
I am Frederick Tuttle, who works in 247 News Agency as an author and mostly cover entertainment news. I have worked in this industry for 10 years and have gained a lot of experience. I am a very hard worker and always strive to get the best out of my work. I am also very passionate about my work and always try to keep up with the latest news and trends.
