It’s an absolute Gold Rush for Taylor Swift.
In December 2023, Rolling Stone reported that Swift had officially broken the record as having the highest grossing concert tour of all time, beating out Elton John’s Farewell Yellow Brick Road Tour for first place and becoming the first artist to ever have a tour gross over $1 billion US.
According to CNN, the Eras Tour is expected to gross a total of approximately $3.4 billion for her North American dates alone.
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Swift just completed the Melbourne leg of her tour, performing consecutive sold out shows at the MCG.
There were over 96,000 people in attendance at each show, the largest crowd Swift has ever played for, with over 288,000 Swifties making their way through the venue over the weekend.
According to The Guardian, an industry insider estimates that the Getaway Car singer will be raking in about $5 million in profits for each of her Australian shows, and that’s not including merch sales.
That profit accounts for her transport, accommodation, production and publicity costs, as well as venue hire, management fees, and ticketing partners taking their share.
So, basically, Swift is rolling in it.
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In 2022, Bloomberg listed Swift’s net worth as approximately $882.8 million, which I think we can all agree – is a lot of money.
But the Eras Tour has now officially made Swift a billionaire.
Shows kicked off in March of 2023, and in October, 2023, Bloomberg reported that her net worth was now approximately $1.7 billion, a huge jump to make in just one year.
However, according to the chief executive of Live Music Australia, Evelyn Richardson, the $5 million profit estimate for each of the star’s Australian tour dates could be slightly off.
Back in June of 2023, she explained to The Guardian that the cost of touring a major show has risen by 30 per cent since COVID-19.
“This is what the promoters are telling us, that there are major supply chain issues and significant increases in freight costs,” she said. “We’ve also got a rise in inflation, and we know ticket sales to live concerts are still down about 35% on pre-COVID figures, so rising costs and less demand has created a perfect storm.
“But a Taylor Swift concert is obviously in a different category, where demand is clearly outstripping supply when it comes to buying tickets.”
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And Swift isn’t the only one benefiting financially from her sell-out show though, with Lord Mayor of Melbourne, Sally Capp, explaining to the ABC that she expects the city to rake in a whopping $1.2 billion all thanks to the superstar’s three shows at the MCG.
And when you consider that Melbourne’s major events usually bring in around $3.3 billion over a whole year, a weekend profit of $1.2 billion is not bad at all.
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