Popular culture, or pop culture, is often rampantly used, sometimes in the most nebulous manner, to describe almost anything under the sun. But, in the recent past, popular culture and popular art, particularly pop music, appear to have incepted a definition and an icon of their own. We are, of course, talking about the phenomenon that American popstar Taylor Alison Swift has become.
The Theory of Swiftonomics
Apart from the artistic progress that Swift may have made with her music, it is the economics, or as many are calling it, 'Swiftonomics', that has emerged to the forefront of the money-making business in pop music.
Broadly, Swiftonomics is oriented in the overwhelming effect that Swift's movements has had and still have across balance sheets. These movements, like in a piece of classical music, are tangebile and independently viable avenues in their own right.
The Eras Tour, which started on March 17 2023, will conclude on December 8 December 2024. |
Some of the most conspicuous tenets of them are her now mammoth touring business, particularly the most recent 'The Eras Tour'. Then, in line is her merchandise business. Finally comes the most important element of all, her persona. This, as her mere presence, has become a token, a currency in itself.
The Eras Tour, which started on March 17 2023, will conclude on December 8 December 2024.
Her Eras Tour is said to have already generated a sum of USD 1 billion, or Rs 8326 crore. This for context, is much bigger than Beyonce's tour, which scored around half a billion. Tours are not just limited to tickets that are sold, they are also about the festivity, that comes with them. This is because the economics of the venue and country are connected to the performance.
Her Eras Tour is said to have already generated a sum of USD 1 billion, or Rs 8326 crore. This for context, is much bigger than Beyonce's tour, which scored around half a billion. |
The fans who come to watch her would require accommodation, which would chain up the hospitality industry in the region. In addition, apart from accommodation, one would also explore the other aspect of the location, where the venue is situated.
This includes food (eateries), tourist destinations, etc. Then comes the money that is churned in by fans flying in from different destinations in and around the venue.
Her merchandise is perennial, and it can be sold and purchased at any point of the year, making it a more viable realm to generate revenue. Needless to say, these articles would see their sales rise during the release of a new album or like in the current case, during a live performance or tour.
The Swiftian Persona Effect
Then comes the biggest platform of all: her persona. A good example of the persona's impact is the development that the NFL saw, with its viewership skyrocketing after her presence in watching American-football matches involving her partner and footballer (American) Travis Kelcey. Another facet of this aspect is embedded in the mini-squabbles that the nation got into, to avail her performance in their countries.
Another development came to pass in Southeast Asia. Here, Swift reportedly only stopped in Singapore, which led to allegations of 'cheating' against Singapore, from neighbouring countries, who could not get her to perform. | Photo Via Instagram
For instance, at the beginning of the tour in 2023, Canadian PM Justin Trudeau requested Swift to have more of her performances in his country. The tour is scheduled to have a mammoth 152 shows in all.
Another development came to pass in Southeast Asia. Here, Swift reportedly only stopped in Singapore, which led to allegations of 'cheating' against Singapore, from neighbouring countries, who could not get her to perform. This eventually led to 'Swifties' from Thailand and Indonesia travelling to Singapore to see her live.
In all, this tour alone is expected to generate a revenue of a mammoth USD 5.5 billion. Making it a difficult summit to scale for anyone else. |
It is estimated that Singapore made around USD 310 million in this bargain. Similar scenes transpired in New Zealand as well, as many fans flew to neighbouring Australia to see her. In fact, it is estimated that, on an average, her fans have had to shell out around USD 1,300 on tickets and hotels alone.
In all, this tour alone is expected to generate a revenue of a mammoth USD 5.5 billion. Making it a difficult summit to scale for anyone else.
The scale of Swift's popularity is something that no one has ever witnessed before, Swift has as many as 95.3 million followers on X (formerly Twitter), meanwhile, she has 283 million followers on Instagram and another 80 million on Facebook.
