Taylor Swift Attains Billionaire Status
Taylor Swift has reportedly increased her net worth to over $1.1 billion, making her a billionaire.
Bloomberg News praised Swift’s journey to becoming a billionaire pop star, attributing it to her songwriting, smart streaming deals, and re-recording of her early albums. Unlike many in the industry, Swift’s wealth keeps growing.
The blockbuster Eras Tour alone reportedly added $4.3 billion to the U.S. economy this year. Forbes estimated that the initial 52 U.S. tour dates could make $620 million, potentially giving Taylor about $500 million. More dates in the U.S. and abroad could further boost her earnings.
The successful movie version of Eras has attracted devoted Swift fans globally. Finally, the release of her latest re-record, “1989 (Taylor’s Version),” on October 27, is expected to contribute to her financial success.
“Taken together, Swift Inc. is essentially a multinational conglomerate with the world’s most devoted customer base, its most charismatic CEO and significant economic power,” Bloomberg said of the power of Swifties and Taylor’s close relationship, and devotion, to fan service.
University of Chicago labor economist Carolyn Sloane told Bloomberg that in addition to being a generational talent, “Swift is a great economist… Taylor has great ideas, is able to scale her ideas and seems to be pretty risk-seeking.”
A “conservative” estimate of Swift’s net worth was given by Bloomberg, taking verified assets and earnings into account. This included five residences, her music catalog, streaming agreements, revenue from concerts, music sales, and merchandise.
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They also took income tax, tour costs, airfare, and commissions from agents and managers into account. Swift’s estimated net worth of $1.1 billion, according to Bloomberg, comes primarily from her music catalog ($400 million), followed by ticket and merchandise sales ($370 million), streaming ($120 million), real estate ($110 million), and music royalties ($80 million).
Furthermore, according to Bloomberg, Swift’s total music catalog might fetch between $400 million and $1 billion if she were to sell it all, exceeding the recent catalog sales of artists such as Justin Bieber ($200 million), Katy Perry ($225 million), and Justin Timberlake ($100 million).
Source : billboard
Taylor Swift Attains Billionaire Status
