How Taylor Swift created an economic juggernaut with her Eras Tour

Amna Nawaz:

Well, pop superstar Taylor Swift ended the first U.S. leg of her Eras Tour last night, leaving American fans waiting until next year to see the concert that is turbocharging the economy and capturing the pop culture zeitgeist this summer.

Stephanie Sy reflects on the tour and the power of Taylor Swift.

It's all part of our arts and culture series, Canvas.

Stephanie Sy:

Its the end of an era, for now, Taylor Swift closing out the first leg of her blockbuster Eras Tour that's enchanted Swifties, who spent their savings, planned their outfits, wove friendship bracelets, and, of course, sang their hearts out inside the stadium and tailgating in the parking lot.

The 33-year-old pop phenom is shattering ceilings with this tour, predicted to be the highest-grossing in history, over $1 billion in sales. Demand alone broke records. She sold a whopping two million tickets in the first 24 hours, temporarily shutting down Ticketmaster, driving resale prices through the roof, and even prompting calls for action in Washington.

Sen. Richard Blumenthal (D-CT):

Ticketmaster ought to look in the mirror and say: I'm the problem. It's me.

Stephanie Sy:

At her first stop in Glendale, Arizona, renamed Swift City for the event, I scored tickets for me and my daughter.

The lengths Swifties have gone to see her perform are matched only by the performance itself, three hours packed with 44 songs, surprise performances, dazzling costume changes, and choreography spanning 10 studio albums, or eras. Fans met the excess with their own.

Mara Klaunig, Camoin Associates:

On average, people spend about $100 to $500 on any given concert. People are spending $1,300, on average, to go see Taylor Swift.

Stephanie Sy:

Mara Klaunig is an economic analyst at Camoin Associates, and a Swiftie herself, who has tracked the tour's financial ricochet.

Mara Klaunig:

They're doing things like getting outfits and hair and makeup and nails to, like, match their favorite era. They're — you know, they're going out to dining at bars and restaurants that have themed menus.

I think just the whole — like, the whole experience around the concert is unlike anything we have ever seen.

Stephanie Sy:

Charting 20 cities, the tour has left economic booms in its wake, in Denver, an estimated $140 million in local revenue, in Cincinnati, $92 million.

In Philadelphia, the Federal Reserve reported the strongest month for hotels since the start of the pandemic. They said, in large part due to an influx of guests for the Taylor Swift concerts in the city.

So, what were your impressions of the show?

Tyler Foggatt, "The New Yorker": I was pretty blown away by it. I have never really seen a live performance like that in my life.

Stephanie Sy:

Tyler Foggatt is a senior editor at "The New Yorker." She made the commute from Manhattan to Philadelphia to see the show and write about it.

Swift's stardom rivals some of the biggest names in history, the Beatles, Bruce Springsteen, Michael Jackson, but with lyrics that weave an invisible string, tying her to her fans.

Tyler Foggatt:

She herself has said that it's been a very therapeutic process, sort of experiencing things, whether it be a breakup or just something else happening in her personal life, and then writing extremely confessional songs that she then performs in front of thousands of people.

And I think that's why people like Taylor Swift so much, is because of that diaristic style of songwriting, this idea that she's writing about her life and wants to share it with us.

Stephanie Sy:

She has not always been so widely praised. Fans still shudder at this moment in 2009, a 19-year-old Swift accepting the award at the VMAs for best female music video, besting Beyonce.

Kanye West, Musician:

I'm really happy for you. I'm going to let you finish.

Stephanie Sy:

It ignited a years-long feud with Kanye West and the lyrics for some of the songs on the album "Reputation." She eventually shook it off, but the blades were sharpened for battles to come.

Question:

Which brings us to Scooter Braun.

Taylor Swift, Musician:

Ugh.

Stephanie Sy:

Ten years later, no longer the rising teenage country star, Swift denounced her former record labels $300 million deal, giving control of her studio master albums to Scooter Braun, with whom she had bad blood. She outsmarted the executives.

Question:

Could you re-record?

Taylor Swift:

Oh, yes.

Question:

Might you do that?

Taylor Swift:

Oh, yes.

Stephanie Sy:

At her final show in L.A. last night, Swift unveiled her latest album to be rerecorded, "1989 (Taylor's Version)."

Retaking ownership of her music has made her the man to even the early skeptics.

Tyler Foggatt:

A lot of her current fans who weren't fans before have actually said, oh, that was just like internalized misogyny. And I, like, have recognized the error of my ways, and now I respect Taylor Swift, as I always should have.

You know, she's reframed this whole project as something very political. Like, it's — it's like a feminist act to listen to the — Taylor's version of "Speak Now" or "Red," instead of the original.

Stephanie Sy:

Swift's concerts kicked off the girlboss summer, one also defined by Greta Gerwig's blockbuster Barbie movie and Beyonce's World Renaissance Tour.

Mara Klaunig:

We're seeing just, like, women that are at the peak of their game that really own their narrative and control their marketing and their messaging and then have a very strong voice and a strong message that they're putting out there.

And I think it's been really inspirational to a lot of women.

Stephanie Sy:

And more women will get to see it live as Taylor Swift goes abroad and adds new American tour dates next fall.

For the "PBS NewsHour," and for the Swifties, I'm Stephanie Sy.

Amna Nawaz:

I always knew Steph was a Swiftie.