Person of the Year 2023 and the terrible power named Taylor Swift

The first entertainer to be single-handedly honored as “Person of the Year”

“For creating a world that is inclusive of so many, for turning her story into a global legend, and for bringing joy to a society that desperately needs it, Taylor Swift is Time’s Person of the Year for 2023,” TIME explained in its decision to name the singer, known as the “country princess,” at the top of its annual “Person of the Year” list honoring the most influential people on the planet.

With this result, Taylor Swift has become the first woman to appear on the cover of “Person of the Year” twice since the event began in 1927. Previously, in 2017, the female singer born in 1989 appeared on the cover of “Person of the Year” along with many other characters, when she was recognized as one of the silence breakers, who inspired women to speak out about sexual misconduct. In particular, the female singer made history as the first entertainer to be honored alone in a poll that seems to mainly honor politicians (previously, Irish rock band U2 was honored in 2005).

Of course, “bringing joy to a society that needs it” is just one of the many factors that helped Taylor Swift win the “Person of the Year 2023” vote. The other fundamental factor is none other than the fact that this 33-year-old singer had a truly explosive 2023, in both the realms of artistic achievement and commercial revenue.

2023 is a truly fruitful year for Taylor Swift as many prestigious music awards continuously smile brightly at the country music princess. The female singer received 6 Grammy nominations, 10 BBMAs, 9 VMAs and 4 EMAs. The achievements of 2023 have increased Taylor Swift's "award treasure" to a total of 11 Grammys, 1 Emmy, 29 Billboard awards and dozens of American music awards.

character of the year 2023 and the terrifying power of taylor swift picture 1

However, it is the commercial revenue that is truly Taylor Swift's miracle that very few entertainment stars today can match. In 2023, Taylor Swift's global sales were around 40 million copies, breaking the record for the largest sales in the 21st century set by the singer herself in 2022. On social media platforms, Taylor Swift's name also dominates. She is the first female artist to surpass 100 million monthly listeners (currently 109 million) and earns an average of 100 million listens per day and about 100 million USD on Spotify. With nearly 30 billion streams in 2023, this is the largest number of listens in a year that an artist has ever achieved in history. Taylor Swift is also the most listened to artist on Apple Music, Amazon Music... and earns an additional 200 million USD.

In particular, the global tour The Eras Tour, which began in March this year and will last until the end of 2024 with a total of 151 shows, is also an unparalleled success for Taylor Swift. According to Pollstar, the Eras Tour is estimated to earn a record $1.04 billion with 4.35 million tickets sold after 60 shows in 2023, becoming the first tour to reach the $1 billion mark in revenue in history. Each concert is estimated to attract about 72,000 attendees with an average ticket price of $238. Thus, this pop star is currently earning more than $17 million for each of her performances.

Taylor Swift is also said to have pocketed an additional $370 million from ticket sales and merchandise related to the Eras Tour. The movie Taylor Swift: The Eras Tour, set during the aforementioned tour, has also grossed $179 million domestically and a total of more than $250 million worldwide. This number will increase when the movie returns to theaters in the near future and is released in the billion-people Chinese market in January 2024.

Terrible Power and the Term “Swiftonomics”

In addition to being named Person of the Year 2023, Taylor Swift was also ranked 5th among the most powerful women on the planet and the terms “Swiftonomics” - referring to how Taylor Swift is boosting the US economy and “Tswift Lift” - referring to the boost in tourism by Taylor Swift's tour - could be the explanation for this talented singer-songwriter's global power.

There are countless examples that could be cited to illustrate the point of “Swiftonomics.” Taylor Swift’s two nights in Denver during the Eras Tour added $140 million to Colorado’s gross domestic product, with fans spending an average of $1,300 per person on hotels, restaurants, and retail. The Philadelphia Federal Reserve reported that just three nights of the singer’s stay in the state brought the city’s hotel revenue to its highest level since pre-pandemic. In Chicago, the area saw its highest post-pandemic increase in public transportation use during her three shows, with more than 43,000 trips. In total, the city earned $90 million from Taylor’s three shows, including $2 million in hotel room revenue with 98% occupancy.

The Federal Reserve (FED) reported that, “Despite a slow recovery in the overall tourism industry, Philadelphia hotel revenue increased the most since the pandemic began in May 2023, largely due to the large number of visitors to Taylor Swift concerts. The U.S. Travel Association estimates that the Eras Tour added more than $5 billion to the state economy in total. According to data from investment firm Bernstein, during Taylor’s tour, hotel revenue was about 4% higher than the national average and 7% higher than the same period last year.”

5.7 billion USD (138 trillion VND) is the estimated figure that The Eras Tour alone brings to the US economy, created by the spending power of fans. Specifically, according to some statistics, on average Taylor fans will spend more than 1,300 USD including entrance fees, hotels, transportation and a series of other shopping expenses. In addition, these fans will spend hundreds of USD on clothes and accessories. The tour is also said to have created tens of thousands of jobs for workers. Just counting the 6 shows in California, there were 3,300 new jobs.

Perhaps because of the "push", Taylor Swift became the first artist in history to be named by the US Federal Reserve (FED) in its special report, specifically naming Taylor Swift as "a driving force behind the US economy".

“You guys make me feel incredible,” Taylor Swift exclaimed to her fans during one of her most famous concerts, The Eras Tour. But really, Taylor Swift herself—with her now seemingly unimaginable economic, cultural, and political influence—is truly extraordinary.

Ha Anh

Source