Unveiling the Numbers that Confirm Her Official Billionaire Status
Bloomberg reports that Taylor Swift has officially joined the exclusive club of musicians, courtesy of the success of her recently released music catalog and ‘The Era Tour,’ a global triumph among select performers.
Exactly 17 years (and three days) ago, a 16-year-old named Taylor Alison Swift dropped her debut album. Titled ‘Taylor Swift,’ it featured her signature on all 11 tracks. A blend of country and teen pop, it quickly became a hit among both audiences and critics alike. Selling 40,000 copies in its first week, it climbed to the 19th spot on Billboard’s Top 200 Albums chart two weeks later. It eventually went seven times platinum and earned a nomination for Best Album by the Academy of Country Music. Since then, a lot has happened for the teenage sensation, who is now a global superstar with 10 albums under her belt and has immersed herself in the world’s most successful tours (now transitioning into film). Throughout this journey, Taylor swift has witnessed a financial shower of millions – a feat that has elevated Swift into the ranks of those few artists globally who have achieved billionaire status.
This has been corroborated by Bloomberg, which dedicated an extensive article to the singer. Reporters speculated, based on conventional estimates, that Taylor Swift’s total wealth surpasses $1 billion. This windfall is, to a large extent, attributed to ‘The Era Tour,’ which has already taken Swift to 50 music festivals in the United States and Mexico. With plans to present over 100 music programs between now and November 2024, the artist is embarking on a half-world tour. Bloomberg notes that their estimate is “conservative and based only on assets and earnings that can be confirmed or publicly disclosed figures.” This implies there’s a high likelihood that additional income from investments and valuable assets like clothing (she wears outfits worth over $20,000 on her tours), jewelry, and vehicles remain unaccounted for.
Analysts based their calculations on the estimated value of Taylor Swift’s music catalog (recorded since 2019, regaining control of rights she lost to her initial manager), five homes ($110 million), streaming deals ($120 million), music sales ($80 million), and concert tickets and merchandise ($370 million)
And Taylor Swift still has about two-thirds of her tour remaining, which means more income. Although she has already made money from ticket sales (which have been selling out for months), there’s still merchandise from the concert yet to be sold, priced at $45 for hoodies and $75 for sweatshirts. True, she doesn’t dabble in fashion or beauty campaigns, nor does she project an image for any brand. Her focus remains on earning through her songs and music programs. Swift can still choose to expand her tour, as she has done on half a dozen occasions. According to Variety, on the first day of ticket sales in the United States, Swift sold 2.4 million tickets, breaking Robbie Williams’ record since 2005. Bloomberg estimates that in this tour, Taylor Swift has already sold concert tickets worth more than $700 million, but after paying related expenses and bonuses to her team (she has given more than $50 million in bonuses), she will keep more than half of that. This should include the addition of $164 million from the sale of movie tickets after the release of the documentary.
Among Swift’s albums, ‘1989’ is the best-selling, and on the midnight of October 27, she released a re-recorded version with five new songs, various formats (collectible CDs, vinyl, cassettes…), and many more commercial items. In 2020, during the COVID-19 pandemic, Swift released two albums, capitalizing on the peak of music consumption from home. In 2022, her third album came out. Now, as everyone is keen to spend money on great experiences after the lockdowns, she is perfectly positioned to capitalize fully on her music, which spans her entire career. With 10 set changes, where the average ticket price is approximately $250, her three-hour spectacular tour caters mainly to multi-generational female audiences, including mothers who heard her 15 years ago and their daughters.
In 2019, the catalog of the Pennsylvania singer was valued at $400 million, which Bruce Springsteen had left behind, having sold it for $550 million almost two years ago. However, according to Bloomberg, considering royalties, Swift’s catalog could reach up to $1 billion.
It’s not just Swift who has benefited from her tour. The cities she visited have also reaped rewards. It is estimated that she has contributed $4.3 billion to the U.S. economy, and there are still nine shows left in America. In Los Angeles alone, during six nights, music festivals have generated approximately $150 million, according to the Los Angeles Times. According to estimates by the Chamber of Commerce in Mexico City, in August last year, Swift’s four concerts, along with the city marathon, spent around $61.5 million in the Mexican capital.
In these 17 years, the 12-time Grammy Award winner knows how to surround herself with a small but loyal team that has become the reason for her success. Her parents, Andrea and Scott, are intimately involved on both personal and professional levels. Her father is associated with 10 companies that manage her daughter’s music, rights, business, and property. Bloomberg notes that they handle not only all real estate properties but also manage her tour bus and two private jets. All of this at the age of 33, in an empire that still has many years to go and many possibilities to explore.