With revenue of $2.2B, the Eras tour has become a case study for media corporations and economists around the world. Over 10.1 million people attended the tour across 152 shows in 51 cities and 5 continents. The numbers are staggering, the economic impacts are being studied in universities and new terms, Swiftonomics, the Swift Effect, Swift mania or the Taylor Swift Economy have become part of economic literature. You’ll find yourself astonished by the impact Eras tour had in every city. If you love numbers, economy or even pop culture, I welcome you to read or watch videos that show the branding power of miss Swift or stay with me till the end of this blog.
Love her or hate her, Taylor Swift has become a global brand after conquering the music industry. I started casually listening to her songs in her 1989 era, reputation made me realize why people love her, but Folklore-Evermore era was the epiphany to appreciate her forte in making people fans or the least, her admirers. She is famous for catchy songs, storytelling mastery and cats or infamous for whatever reason you believe. But she is the marketing genius which helped not only herself but local economies around the world. Here are some of the reasons why I believe Taylor Swift has made the music business popular again with her marketing brilliance.
Branding:
Every song in her discography is either written or co-written by her be it country, indie-folk or pop albums. While reinventing new genre of music, she maintained consistency in telling stories and life experiences. This has built a sense of ‘connection’ with the fans who resonate with similar emotions, struggles and experiences. Tesla, Apple, Louise Vuitton etc. consumers spent premium prices to feel inspired and her fans have shown consistently that they’ll pay for everything she produces. Ask any Swiftie (a term Taylor Swift fans calls themselves) why they love her, and the answer is mostly that she has a song for every mood. You’ll undeniably admit if you listen to her songs as a cynic. That’s strong branding strategy, i.e. to make consumers addicted to your products by producing every season/ cycle. There is never a shortage of supply when it comes to releasing new music. Most of her albums have 20 plus songs and different variants of physical copies which create a buzz amongst fans to buy each version. And her artistry evolution from country to pop sensation multiplied not just music customer base but also enormous wealth. She gained millions of fans after the surprise release of Folklore-Evermore, indie-folk albums during the Covid-19 era. Her audience became more diverse, and these albums appealed listeners outside typical pop circle. Despite artistic reinvention, she remained loyal to her storytelling roots, which is why her artistic evolution is being taught in Harvard, Stanford and many universities across America, England and Australia. This creates more demand, and her massive catalogue generates income from radio plays and steaming platforms while listening to her music for assignments or thesis.
- Loyalty & Global Community:
Successful brands have built loyal consumers at the global landscape. Taylor Swift has consistently credited her fans the ‘major’ factor of her success. She has cultivated the most dedicated global fanbases, “Swifties.” Lucky ones have been to her house for Secret Sessions playing all songs from the new album before the official release. Many had the opportunity to meet Taylor Swift in ‘meet and greet’ after her shows. She has remained engaged by not just entertaining them but giving away surprise gifts, and interactions via Instagram, TikTok etc. This is not just a lucrative marketing strategy but effective humane connection who would then support her in every situation. They even spent generously to purchase her re-recorded albums, famously known as Taylor’s Version. This has never happened where the re-records made record-breaking sales. Just like football, UFC or Cricket fans celebrate their team or player’s success, the swifties’ bond over their shared love for miss Swift is incredibly beyond belief.
The Ticketmaster website crashed as millions of fans flocked to get tickets of Eras Tour; fans spent thousands on tour ticket, flights, and accommodation to attend the show in their favourite cities not just in their own cities. When the shows got cancelled in Vienna, the Swifties organized mini-Era shows on Corneliusgasse (Cornelia Street for Taylor Swift fans), churches and local pubs. The exchange of friendship bracelet was a cultural movement by the fans, who started the trend after a reference from her song, “You’re on your own kid”. It created a sense of community symbolizing connection with other fans. Even the famous celebrities like Tom Cruise, Ryan Reynolds, Nicole Kidman, Gigi Hadid and the great Paul McCartney were spotted exchanging bracelets with fans during the tour. And everyone remembers when millions of fans started watching NFL (American football) because their favourite pop artist showed up to the NFL Chiefs’ games. The videos of dads & daughters watching football became viral on the Internet. That’s the power of powerful branding. These reactions are unheard of that does not bring people together but bring in huge profits for local businesses and big corporations. And she continues to cash in with the Eras Tour movie, book and a documentary in works.
- Effective Use of Social Media
Taylor Swift has established a strong connection with fans through effective use of social media. Be it album announcement, new music video, or personal milestones, Swift interacts with the fans directly than sourcing mainstream media. This not only fosters exclusivity and loyalty but extends her reach to global audiences who follow her on Instagram, Twitter or TikTok. She holds enormous sway over consumer behaviour which leads to massive sales not only for herself but small businesses as well. The Black Dog café in South London saw an unprecedented surge in customers after fans realized her song of the same name is inspired by the café. The 400% spikes in sales of Travis Kelce’s shirt after Taylor attended her boyfriend’s game was a game changer for NFL franchise. The effect made the companies realize that if you’re not leveraging on the brand ‘Taylor Swift’, you are missing a business opportunity.
Miss Swift has used social media to control her narrative and address controversial topics. When the whole mainstream media joined the bandwagon to cancel her after the infamous feud with Kim & Kanye or the battle of her music ownership, she clarified her stance on her platform than traditional media. She convinced thousands of young voters to participate in the US election and has advocated for social and charitable causes that have sparked important conversation for the good. Her letter to Apple CEO for paying artists on their platform was an example of conviction for artists’ right. She personified what a seasoned artist should stand for after gaining power and wealth.
- Events: Taylor Experience
In February 2024, the Eras tour generated $174 million for the local economy after 3 shows in Melbourne, Australia. Each show was attended by 96,000 fans helping miss Swift take home $25million per show. Every city has successful economic stories after hosting miss Swift in 2023 and 2024. Upon the announcement, the Eras tour demand created global chaos resulting into the crash of Ticketmaster platform after millions of fans queued to get the tickets. A congressional hearing was called in to look at the ticketing policies and overall market control by the Ticketmaster. The improvement was made but this started a historic musical experience for fans of Taylor Swift. Her adept use of strategy ‘fear of missing out’ created exclusivity after a long period of lockdown. People wanted music concerts back and the Eras Tour became an unmissable event. For fans, it’s a larger-than-life experience with 3 hours of music, stunning visual effects, emotional performances and the special ’22 hat’ moment. The ’22 hat’ was the standout moment even for non-fans when a lucky fan meets and receives a hat from Taylor Swift during the song, 22. A lucky fan from New Zealand, Oliver Mills is one of the luckiest fans who received a hat in Melbourne. Those who missed or couldn’t afford the tickets, gathered around the stadiums to enjoy Taylor-gating or Tay-gating. During a show in Munich, Germany, some 25 thousand fans gathered on the grassy hill in order not to miss the event. The fans started calling the hill, Mount Swiftie.
The tour has broken all the previous records of legends like Michael Jackson, Madonna, the Beatles and Elton John. Artists usually play songs from a new album, but the Eras tour was a celebration of her entire catalogue meaning fans experienced Taylor’s musical journey from debut to the new releases and re-records. The streaming numbers, tour merchandise and album sales multiplied in every city she visited. The tour also served as a promotional vehicle for new releases as she released 1 new album and 2 new re-recorded versions of her past albums showing her masterful business strategy and artistic narrative.
- The Charitable Swift:
The economic ecosystem associated with Taylor Swift is growing and everyone is capitalizing on. Tourism, fashion and music industries saw the impact of her tour in every one of the countries. And the cities changed their official name in honour of hosting the Eras tour. Vancouver – Canada became SwiftCouver, Liverpool was renamed ‘Taylor Town’, Gelsenkirchen- Germany as Swiftkirchen, and Santa Clara turned Swiftie Clara. She became honorary mayor of cities and Christ the Redeemer in Rio de Janeiro had Taylor Swift inspired shirt projected to welcome her in Brazil. She became a billionaire solely based on music making her the first musician and now the richest female musician.
One of the reasons she’s gained respect by fans and music industry is her generosity and philanthropy. And charity efforts have become part of Swift’s identity. Upon the end of Eras tour, she gave $175 million in bonuses to her tour crew. And last year, she gave $100,000 bonuses to each 50 of her tour truck drivers. This was life-changing for them especially when the tour crew usually get a pizza-party, or some drinks post the tour. She donated thousands to local food banks in every city she toured in the UK and North America. Over the years, she has donated for disaster relief, social causes and even paid for tuition fees or medical bills of fans which have made significant impact in their lives.
Taylor Swift’s ability to emotionally connect with fans keeps them loyal, strengthening her brand and expanding commercial success beyond just north America. The cultural & economic impact of her brand will likely continue to grow with the next era. And you may become a Taylor Swift fan if not of her music but the powerful economic force she has become.
Happy Birthday, Taylor Swift
P.S: Favourite Taylor Swift Album: Folklore-Evermore, the sister albums
