A lot of people on the planet can sing, right? But not everyone can turn it into a successful and lucrative career, let alone evolve into an international business juggernaut. In 2023, our girl, Taylor Swift, didn’t just knock it out of the park, she played an entirely different game, and guess what? She freaking won.
The ‘Eras’ tour wasn’t just a concert, it was a business masterstroke, breaking records and earning her a spot right at the top, among the industry’s elites. Not to mention, she made it all seem as effortless as her high notes (and we all know, there’s nothing “effortless” about hitting a high E!).
So, let’s unpack:
Swift’s Commercially Successful “Eras” Tour
Now, let me stop y’all right there. If you think this was just about singing, think again. Swift brought theater, fashion, and off-the-charts enthusiasm, creating a globetrotting economic behemoth that would make any Fortune 500 company take notes and learn a thing or two.
Looking at the numbers, her “Eras” tour became the biggest in StubHub’s history, and quite frankly, no one was surprised. Well, everyone except perhaps the other successful acts who were quietly shoved aside (Sorry, guys!).
Estimates put earnings of her tour already in the 10 figure range. Whoa! She’s practically printing her own money. An average “Eras” ticket resale price saw a gigantic 741% surge from her “Reputation” tour in 2018. If we’re talking influence, Swift holds the reins.
And don’t forget those $100,000 bonuses she generously shared with her tour truck drivers. See, she doesn’t just sing about being nice, she is nice!
Swift’s Business Acumen
Taylor didn’t stop at raking in concert revenues, she spun her fans’ infectious enthusiasm into a whirlwind of merchandise sales. From shirts to hats, posters to guitar picks, Swifties had a field day snatching up memorabilia as if their lives depended on it.
“She knows her business as much as she knows her fans. She knows what they want, and she never fails to deliver,” says Shaomian of the University of South Carolina. That, ladies and gentlemen, is the textbook definition of knowing your market and serving them right.
Trust me, if there was a university module on business acumen, Swift’s tour merch savviness would be chapter one!
Swift’s Big Screen Achievements
In the realm of strategy, Taylor is the queen. Using the heat of her tour, she created the film “Taylor Swift: The Eras Tour.” And boy, did it take off! It minted a staggering $96 million in its opening weekend and even shattered AMC’s 103-year old record for the highest ticket sales in a single day.
Let’s get this straight, she’s not just making waves, she’s creating tsunamis in the business world. Record-breaking tsunamis!
Swift’s The Fruits of “Good” Publicity
The cherry on top? Time Magazine named her their Person of the Year. We’re talking a place amongst the likes of Obama, Pope Francis, and Merkel. The audacity of this girl, right?
To quote Swift herself, “It feels like the breakthrough moment of my career, happening at 33.”
Well, Taylor, at the rate you’re revolutionizing not just the music but also the business world, we’re sure the best is still to come. After all, you’re not just a star, but a living, breathing testament to why understanding your audience and branding strategy is the first step to successful entrepreneurship.
Hey CEOs, take notes, will ya?
