All too well, a generation or two has been consumed by the love story between music and Taylor Swift which all know hits different. Over the last year she has been a centre focus of attention in a world where attention is a commodity. From having at least 10 university classes about her to the Federal Reserve stating her as the reason for economic growth. She was the “Time’s Person of the Year” for 2023, the first woman to be awarded twice.
‘The Taylor Swift Effect’ is now a mainstream economics concept which, according to Falon Fatemi for Forbes is; “The Swift Effect,” Taylor Swift’s unbelievable ability to boost sales and engagement… just by showing up.” Whether it’s the rise in viewership of the NFL (equivalent to the last superbowl)or the 400% increase in sales for ‘89’ Kansas City Chiefs jersey just because she went to see her boyfriend play. This phenomenon stands true. The effect is at full showcase in regards to ‘friendship bracelets’ exchanged at her concerts. Her fans started making them after her song ‘You’re on Your Own Kid’ release that has a lyric that talks about making friendship bracelets, which resulted in a 500% increase in sales of craft supplies. It is not just big names profiting, with the average of $13,000 spent according to The US Travel Association by each person visiting a city where she is performing, food, hotels and merchandise, benefiting with a 300% lift in local economy. The influx of population did not just include just the people coming to watch the shows but also the people ‘Taylor-gating’ as it was coined, where people park outside the stadium just to catch the sound from the outside. In addition to that, mayors of these cities are changing the names of the city itself, street names, giving her the key to the city, etc in honour of her coming to perform there.
This is not just restricted to The States, but extends internationally. It started with the Chilean President Gabriel Boric taking to youtube to ask her to perform in his country, which was swiftly followed by The Mayor of Budapest, Gergely Karácsony requesting her to consider Hungary to the itinerary. When it became clear that Swift was not going to include Canada in her tour, the Canadian government entered the debate. Matt Jeneroux, a Conservative MP, expressed his concerns about the possible loss of revenue that The Eras Tour could have brought to Canada in an official grievance filed in the House of Commons. Using the occasion, Canadian Prime Minister Justin Trudeau sent Taylor Swift a lighthearted invitation on Twitter. The next to chime in was Pita Limjaroenrat, the leader of the Move Forward Party in Thailand, who communicated with the music sensation via Twitter as well. He tweeted “Thailand is back on track to be fully democratic after you had to cancel last time due to the coup. The Thai people have spoken via the election, and we all look forward to welcoming you to this beautiful nation of ours.” All in all, I can conclude that Taylor Swift has secured a position in political campaigns.
When one looks at the $5.7 billion boost of the US economy generated by fans spending an estimate of $93 million per ERAS Tour show, one finds themself wondering if this was the plot of one the barbie movies we watched as children and they won’t be wrong. Barbie can do anything and be anyone and so can Taylor Swift. Just like a hue of pink can sell out anything from dolls to stationary, the same way even the slightest allusion can boost engagement and sales. Take events for example, there are ‘Swiftie Nights’ at clubs where they play only her songs which sell out like hotcakes and tshirt with her lyrics, friendship bracelets on sites like Esty also make big bucks. Sometimes one doesn’t have to make that much effort, just a rumour is sufficient. When there was a rumour that she was dating F1 driver Fernando Alonso, which resulted in 4.5 million views on a TikTok posted by Alonso himself, where he winks to a speedup version of her song ‘Karma’ with a caption ‘Race week era’ followed by another of her song ‘22’ where he was lifting weights and captioned ‘lifting 22’s’. Not only did this surge the interest in the driver to a whole new audience beyond the F1 world but Formula one itself commented on the TikTok, “Never did we think in our Wildest Dreams this would happen.” To further captivate this new audience the commentators for the Baku race week made choice remarks about the driver’s performances using her song titles and lyrics. Using this as a template, other teams like Mclaren regularly post Taylor related content. For example in honour of the release of her new album ‘The Tortured Poets Department’ they posted both drivers in black and white emulating the cover of the album. It is not just the racing world that has adopted this strategy of marketing, Pixar used its characters with the song titles of the same album.
Taylor Swift, the music industry’s newest billionaire, has transcended the typical impact of a pop star. Her influence has touched hearts and wallets in unexpected ways. Fathers across the US are thanking Taylor Swift for bridging the generation gap. Her association with the NFL has sparked an interest in American football among teenage daughters, creating a common ground for families to connect and bond over. Governments are recognizing Taylor Swift’s immense popularity as a potential economic driver. Cities and states are vying to host her concerts, hoping to attract a massive influx of fans and generate significant revenue from tourism and related industries. There is nothing too big for Dr Taylor Alison Swift.
Works Cited:
Lansky, Sam. “Taylor Swift.” TIME, 6 Dec. 2023, time.com/6342806/person-of-the-year-2023-taylor-swift
Jacobs, Sam. “Taylor Swift.” TIME, 5 Dec. 2023, time.com/6342816/person-of-the-year-2023-taylor-swift-choice
Collins, Marcus. “What the Taylor Swift Effect Teaches Us About Influence.” Forbes, 20 Feb. 2024, www.forbes.com/sites/marcuscollins/2023/10/02/what-the-taylor-swift-effect-teaches-us-about-influence/?sh=4f993b4635eb.
Fatemi, Falon. “The Taylor Swift Effect.” Forbes, 20 Feb. 2024, www.forbes.com/sites/falonfatemi/2023/11/21/the-taylor-swift-effect/?sh=7cd9b690357a
McIntyre, Hugh. “World Leaders Keep Asking Taylor Swift to Bring the Eras Tour to Their Countries.” Forbes, 20 Feb. 2024, www.forbes.com/sites/hughmcintyre/2023/07/08/world-leaders-keep-asking-taylor-swift-to-bring-the-eras-tour-to-their-countries/?sh=1ca96c48415c.
Blistein, Jon. “Taylor Swift Has Taken Over… Formula 1?” Rolling Stone, 1 May 2023, www.rollingstone.com/music/music-news/taylor-swift-fernando-alonso-dating-rumors-f1-1234727253