Why is Taylor Swift the top CEO of 2023?

The definition of a phenomenon is “a notable person, thing, or event.” However, even that is difficult to describe Taylor Swift’s success in 2023.

In music, she is this generation’s Elvis Presley or Beatles. In business she is Starbucks’s Howard Schultz or Tesla’s Elon Musk. And in the cultural field, people will probably compare her to Oprah Winfrey in terms of influence.

Taylor Swift is Time magazine’s recent “Person of the Year.”

The most famous singer-songwriter in the world right now, Taylor Swift dominated the headlines during 2023, culminating in the prestigious Time magazine’s year-end “Person of the Year” award honored after “ Her Eras Tour” became the highest-grossing concert tour of all time, with a figure of nearly $1 billion.

“Taylor is unique and remarkable in what she does, not just as a performer, as a musician, as an artist,” said Time magazine CEO Jessica. Sibley, said on December 6. “I look at her as a business leader and a CEO of her own brand. The results she achieved were unbelievable.”

“Swiftonomics – The Taylor Swift Economy”

In fact, in a year where America has been defined by better-than-expected economic data fueled by strong consumer spending, Taylor Swift’s success is one way to explain why the country’s economy is failing fell into recession, which had been widely predicted.

Her world tours have had a major impact on consumer spending.

The first mention of the term “Swiftonomics – The Taylor Swift Economy” was in July 2023, when the U.S. Federal Reserve released the Beige Book. The Fed then highlighted Taylor Swift’s three-night stop at Lincoln Financial Field as a boost to the local economy.

“As customer spending at leisure destinations has declined modestly in recent months,” the report said. However, May was the highest hotel revenue month in Philadelphia since the pandemic began, largely due to attendance at Taylor Swift’s concert in the city.

In a research publication titled “Rapid Inflation – An Unprecedented Acceleration” on July 21, 2023, Moody’s, the world’s leading credit rating organization, reported that, Hotel room vacancies have skyrocketed in every city Taylor Swift stops in on tour.

Taylor Swift was even mentioned alongside Barbie during a Federal Reserve press conference in July about consumers’ flexible spending. Fed Chairman Jay Powell praised the pop star, and expressed the view that Swift’s tours could be seen as a broader indicator of the 2023 economic story.

Meanwhile, Bank of America economist Shruti Mishra told Yahoo Finance in July: “These events [Taylor Swift’s tours] are getting more and more attention than the situation we were looking at.” ”.

Mishra added: “Will consumers slow down? Will that continue? Those questions are the most important leading up to any Fed press conference, FOMC statements and the economic outlook more generally.”

Taylor Swift by the numbers

Taylor Swift has been the subject of countless headlines and social media conversations this year, from the highly anticipated World Tour “Eras” to her relationship with Kansas football player Travis Kelce City Chiefs.

Many fans have paid thousands of dollars to see Taylor Swift perform.

The “Eras” world tour, with nearly 150 stops, started in March and largely contributed to her becoming a billionaire in October. Many fans paid thousands of dollars to see Taylor Swift perform songs from her entire discography.

According to Forbes estimates, the tour grossed $780 million by the end of August, earning Taylor Swift $305 million. Since first announcing the tour, Swift has surprised fans by announcing more stops. In August, she added 15 more North American stops to the 2024 leg of her tour.

According to many reports, more than $250 million is the revenue that Swift’s “Eras Tour” concert film has earned at the global box office. Forbes estimates Swift’s net worth at $1.1 billion as of early December 2023, including $500 million for her music catalog, $500 million from royalties and touring, and more 150 million USD from real estate.

In addition to the Times Magazine honor, Taylor Swift also won numerous awards in 2023, from People magazine’s sexiest person of the year to a top spot on the list of the world’s most powerful women in media and entertainment sector.