JRNL 503: Swiftonomics

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Night One Of Taylor Swift | The Eras Tour - East Rutherford, NJ

The Eras Tour is the ongoing sixth concert tour by American singer-songwriter Taylor Swift. Paying tribute to her albums, the Eras Tour stands out as her most extensive tour to date, encompassing 149 performances held across five different continents[1]. As of August 2023, it is the highest-grossing tour headlined by a female artist and ranks as the second highest-grossing tour overall by Forbes[2]. The tour had a significant cultural, economic and political impact, evident in the form of unprecedented demand from various music industry leaders, ticket sales, venue attendance records, and a boom in the hotel industry. The economic impacts experienced by the cities hosting Swift's mega-concerts are so significant that Bloomberg reporter Augusta Saraiva[3] coined the term "Swiftonomics" to describe this unprecedented impact.


The economics of the Eras Tour has been termed "Swiftonomics” by analysts and journalists. The coverage of Taylor Swift’s economic impact has been a focal point in the media and for news outlets since the tour’s onset. Bloomberg economic analyst Augusta Saraiva stated that the tour's unprecedented ticket sales represented a "post-COVID demand shock"[4] in the US, with consumers prioritizing entertainment over an imminent recession. The Toronto Star reported that “she could bring with her one of the largest short-term injections in consumer spending the city has seen in recent memory,”[5] resulting in a significant spike in Toronto’s economy. The Los Angeles Times said, “Swift’s fans represent an extreme version of that turbocharged consumer,”[6] indicating that fans’ uncapped desire to see the artist perform would result in spending extraordinary amounts on tickets. In a New York Times opinion piece, columnist Paul Krugmen wondered “why doesn’t Taylor Swift make more?”[7] alluding to the fact that her extensive economic impact should result in more money for the American singer. Anne Steele and Sarah Krouse from The Wall Street Journal opined that the Eras Tour is an example of "women's multiplier effect", showing how women's entertainment can impact the economy.

Coverage of Swiftonomics

Business Publications

Prominent business-focused newspapers and magazines, Forbes and Bloomberg, have covered Swiftonomics in detail. They explain its significance through an economic lens, emphasizing its pervasive impact in several markets.



Forbes is an American business magazine that covers finance, investing, entrepreneurship, leadership and technology. Every month, Forbes reaches 150 million people across all platforms, including online, social media, live events, videos and print. It is best known for its lists of billionaires, 30 under 30 entrepreneurs and leaders, America’s best colleges and entertainers[8][9]. Their audience is mainly wealth advisors, business and tech decision-makers, high-net-worth investors and consumers and business owners[10].

Forbes Coverage

Forbes extensively covers Swiftonomics. Some article topics include how much money the Eras Tour could generate for local economies, how Swiftonomics, and subsequently "Pensionomics", could help boost the U.S. economy, and the ways host cities preemptively accommodate for the tour’s impact[11][12][13]. They also cover the influence of the Eras Tour movie and how, together with the Beyoncé movie, they are resurrecting the American movie theatre industry[14].

Bloomberg News


Bloomberg News is the financial news branch of Bloomberg L.P., a software, data analytics, and media company that provides services to financial companies and organizations through the Bloomberg Terminal[15]. They serve to deliver breaking news about profound financial events so their consumers can stay ahead of the markets. They produce roughly 5,000 stories a day and in 2022, they recorded having more than 450,000 terminal subscribers[16]. Bloomberg’s audience demographic is “among the most influential people in business and finance in the world.”

Bloomberg Coverage

Augusta Saraiva, reporting for Bloomberg, was noted as the first to coin the word Swiftonomics[17]. Article and video topics include how Taylor Swift is boosting the economy, how fans are “turbocharged consumers,” Swiftonomics being a “post-covid myth,” and the kinds of economic lessons learned from the Eras Tour, such as “pent-up demand” from the COVID-19 years and levels of disposable income in youth populations[18][19][20].


Framing refers to the narrative in which something is presented, creating a constructed lens of perception. It occurs through a selection process of key words, phrases and images that reinforce a specific representation[21].

Content on Swiftonomics written and published by Forbes frames Taylor Swift and her impact through a lens of empowerment. Their coverage is generally positive, as they emphasize how Swiftonomics has provided a sense of hope and even revival for some local and regional economies, calling her “a titan of the entertainment industry.” Bloomberg frames Swiftonomics in a more negative light, as they use harsh language (as is referenced above) to describe the fan behaviour that has led to Swift’s economic impact. They attach her success to an uncontrollable fanbase experiencing a fervour in the wake of events being shut down during the COVID-19 pandemic.

Mainstream News Organizations

Mainstream newspapers and magazines have covered Swiftonomics for a wider audience beyond the business sector. Its presence in these publications indicates the level of influence Swiftonomics has on the world, as sources deem it newsworthy for they readers and viewers. Two highly consumed mainstream news organizations in North America that cover Swiftonomics are CNN and Fox News.



The Cable News Network (CNN) is a leading multinational news channel on cable television and online. It reaches 80 million households in the U.S. and 347 million households worldwide[22][23]. They have 37 editorial operations around the world. CNN covers several news areas including US, world, politics, business, markets, opinion, health, entertainment, and more. According to Allsides, an American-based media research analysis company, CNN’s online news “leans left"[24].

CNN Coverage

Swiftonomics has been covered mainly in CNN’s business section. Videos and articles include how cities “court Taylor Swift for Eras Tour shows,” the exorbitantly high ticket prices and what it says about the economy, the spike in Travis Kelce jersey sales after Taylor Swift and him began dating, as well as the record-breaking spike in Sunday Night Football ratings[25][26][27][28].

Fox News

Owned by Fox Corporation, Fox News is an American cable television news channel and online website who delivers breaking news, as well as business and political news and opinions to their consumers[29]. It was created with the intention of generating a conservative news hub to compete against dominant rivals, CNN and MSNBC[30]. The Fox News Channel is a top five cable network available in more than 90 million homes[31]. In October 2023, Fox News was the most watched cable news network, with 2.12 million primetime viewers in that period[32].

Fox News Coverage

Fox News has covered Swiftonomics with articles and videos on Taylor Swift helping “revive the economy” through generating five billion dollars in consumer spending, Swift being “better qualified to run US economy than Biden,” the Eras Tour movie saving theatre chains, and how local economies have benefitted from the tour[33][34][35][36].


CNN frames Swiftonomics as having created a large impact in several markets. They frame Swift as a successful artist who has transcended the economic possibilities for concert tours and the ripple effects that endure from it. Their coverage on Swift’s impact on the NFL gives insight into this ripple effect. Fox News also details Swiftonomics in several respects, but has also framed it as a tool to attack President Biden to appeal to their conservative viewership[37].

Economic Impact

The Eras Tour generated revenue of approximately $4.1 billion for Swift[38] and generated an estimated $5 billion[39] in consumer spending in The US alone, and is the highest grossing solo tour in history[40]. Cities where Swift performed repeatedly reported increased spending at and massive profits for local businesses including restaurants, hotels, and other commodities. Swift generated more revenue for local businesses in Glendale, Arizona than The Superbowl[41], which was held in the same stadium, and the tour has been compared to the economic equivalent of performing two to three Superbowls a week[42] in cities the tour has stopped in.

Post-COVID-19 Demand

The demand for concerts following the COVID-19 pandemic has shown a significant resurgence, as shown by a study conducted by Statistics Canada in 2023[43] which indicated a strong appetite for live events, where the strongest revenue growth was seen in the promoters (presenters) of performing arts, sports and similar events industry group.

Swift fans headed to the US Bank Stadium for night 2 of The Eras Tour in Minneapolis.


The Eras Tour buoyed hotels to profit and occupancy levels not seen since before the COVID-19 Pandemic[44] with an estimated $208 million in revenue generated for the hotel industry[45] in the US.

Merchandise Sales

Official merchandise[46] ranges from clothing and accessories to albums on vinyl, CD, and cassette, with prices ranging from $15 to $75 US[47]. Fans spent $215 US on average[48] at the concerts. Merchants such as Target that sold exclusive Taylor Swift merchandise[49] reported increased profits as a result of the tour[50] and e-commerce company Shopify reported a surge in sales[51] following Swift’s release of Eras Tour merchandise on their platform.

Coverage of Impact

Coverage of the economic impact of The Eras Tour was widespread and heavily reported by both international and US-focused news outlets. Topics ranged from effects on the US economy to effects on more local economies within the US, as well as revenue generated for both Swift and the larger US economy.[52][53][54][55][56]

Taylor Swift: The Eras Tour (Film)

On the 31st of August 2023 Taylor swift announced that a concert movie of The Eras Tour would be released on the 13 of October 2023.[57] As reported by Pitchfork, the film was scheduled to be shown in the United States of America along with Canada and Mexico.[58] Variety reported that AMC, the world’s biggest cinema chain, partnered with Taylor Swift for the release of the Taylor Swift: The Eras Tour (film).[59] Across the three territories, according to billboard, it was expected that the film would be played in more than 4,000 theaters. To cope with demand AMC Theatre would host at least 4 shows a day, initially, across their U.S. cinemas.[60] On the 26th of September 2023 she announced, on Instagram, that the film would be screened worldwide and not just in North America.[61] According to the The Hollywood Reporter, AMC and its partners were working on deals to bring the film to over 7,500 cinemas globally. The film would be released in over 100 countries.[62]

Taylor Swift: The Eras Tour alternative logo


The concert film is produced by Taylor Swift’s in-house production company, called Taylor Swift Productions[63] , and Silent House Productions.[64][65][66] According to the New York Times, The Eras Tour (film) is estimated to have cost around $15 million (US) to produce.[67]

The movie was captured and edited from the footage that was recorded over the first 3 nights of the 6 nights stand that took place at Los Angeles’ So-Fi Stadium.[68] Taylor Swift: The Eras Tour (film) is directed by Sam Wrench, who Fast Company called "something of a concert film specialist".[69]


According to Forbes, the film earned $26 million USD in single day ticket sales for AMC Theatres.[70] AMC, the official distributor for the film, called the demand for the Taylor Swift: The Eras Tour (film) “record breaking”. The single day revenue that the film generated overtook the previous record of $16.9 million USD which was previously held by Spider-Man: No Way Home.[71]

Taylor Swift: The Eras Tour (film) became the highest grossing concert film release of all time. It earned over $150 million USD in domestically and more than $200 million USD globally.[72] It falls short of “Michael Jacksons’s This Is It” concert rehearsals documentary’s global haul of $ 262.5 million USD.[73][74]

Taylor Swift Eras Tour: Ticket Sales

Ticket demand for the Taylor Swift Eras Tour has been “historically unprecedented”, as Forbes quoted Ticketmaster, the company responsible for the pre-sale.[75] The tickets were supposed to go on sale only for verified fans through the site. The site crashed, due to the traffic caused by thousands of fans who tried to purchase tickets.[76]

In June of 2023, Wall Street Journal estimated that the Eras Tour was on track to becoming the highest grossing concert tour of all time. It could cross the $1 billion USD milestone and  overthrow the previous record of $939.1 million USD held by Elton John.[77][78]

Seatgeek, a ticket resale site, told CNN that the average resale price for the Eras Tour was over $1,607 USD. That figure is 741 per cent higher than the $191 USD resale price of the 2018 Reputation tour.[79]

JRNL 503
Practices and Standards
Office Hours:
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