The era of Taylor Swift – one of the most powerful women in the world

Thanks to her record-breaking sales tour, her ability to boost the economy, and her $1.1 billion net worth, Taylor Swift ranks among the most powerful women on the planet.

Singer Taylor Swift performs on her Eras tour. (Source: Getty Images)

“You guys make me feel so incredible,” Taylor Swift often told the crowds of fans who filled the stadium at each stop on her Eras tour.

Immersed in the applause, the 33-year-old pop star then kissed her biceps, all the while making the audience even more enthusiastic. “You guys are making me feel so strong,” she said, with a smile on her face.

It’s just a stage performance, but Swiftie Nation (Taylor Swift’s fan community) understands that she’s always been her true source of strength – and in her 17-year career, this female singer has never now has much more economic, cultural and political influence.

All of which has helped her move up the rankings on Forbes magazine’s Most Powerful Women in the World list, from No. 79 in 2022 to No. 5 this year.

Thanks to the record success of her Eras tour, Swift became a self-made billionaire in October – making her the rare recording artist to achieve billionaire status, along with Jay-Z (net worth net: 2.5 billion USD) and Rihanna (1.4 billion USD).

A three-and-a-half-hour concert retrospective of her career, the Eras tour grossed nearly $850 million over the course of 66 shows in the United States.

The first leg helped Swift earn an additional $190 million after taxes, bringing the singer’s net worth to $1.1 billion. The show will be held in locations in Europe and Asia next year.

Female singer Taylor Swift at an event in Los Angeles, California, USA, October 11, 2023. (Photo: AFP/TTXVN)

The so-called Taylor Swift Effect creates widespread financial impact. Two nights of her tour in Denver added $140 million to Colorado’s gross domestic product, thanks to fans spending an average of $1,300 each on hotels, restaurants and retail.

The Philadelphia branch of the Federal Reserve even said that May – during which the singer performed three nights in the state – marked the city’s highest month of hotel revenue since before the pandemic. The American Travel Association estimates that the total tour around the United States added more than $5 billion to the state’s economy.

“Basically, Taylor Swift is like a large corporation, operating in many sectors,” said University of Chicago economist Carolyn Sloane. “Her audience has tended to be so young and so feminine for so long that people may have underestimated her economic influence. I don’t think anyone doubts that today.”

Female audiences, mostly young people, also followed Swift to the movie box office this year. Here, she once again demonstrated her clout, bypassing Hollywood studios to release The Eras Tour directly with AMC in October, despite the fact that she had no traditional marketing machine. through the back.

Swift itself is the ultimate marketing machine. The film grossed $93 million in its opening weekend and grossed more than $250 million worldwide.

As with the Eras tour and the concert film, much of Swift’s power stems from her direct control of her business.

More impressive, and potentially more lucrative, is how she regained ownership of her song catalog by re-recording the albums that were part of the $300 million sale that Swift alleges was done behind her back. .

To date, she has re-recorded and released four out of six albums. The most recent of these, 1989 (Taylor’s Version), set a Spotify record for most streamed by an artist in a single day.

When you consider that Katy Perry and Justin Bieber sold the rights to their respective music catalogs in 2023 for over $200 million, Swift’s musical value will only make her richer in time upcoming.

Time magazine cover announced “Person of the Year” as female singer Taylor Swift, December 6, 2023. (Photo: AFP/TTXVN)

However, Swift is still not the most powerful woman in the world. That position belongs to European Commission President Ursula von der Leyen, whose policy and budget decisions affect 450 million Europeans. That number could soon exceed 500 million.

Second place this year is Christine Lagarde, President of the European Central Bank, who is shaping Europe’s monetary policy in a time of high inflation.

Ranked ahead of Swift are US Vice President Kamala Harris (No. 3) and Italian Prime Minister Giorgia Meloni (No. 4). Both are the first women to hold their respective positions, and Meloni is asserting her influence by proposing to reform the Italian constitution to allow direct election of the prime minister.

“All the hard power people are really strong women, but they won’t be able to change the world the way Taylor Swift does,” said Jones, a branding expert.