The Influence of ‘Swiftonomics’: How Taylor Swift Impacts Business and the Economy

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Last summer, Chris Galvin was on a mission to find Taylor Swift tickets for his 13-year-old daughter. Unfortunately, the only tickets he could find were going for $2,000 plus an additional $500 for parking 10 minutes away from the concert at Levi’s Stadium in Santa Clara. Swift’s highly anticipated concert led the city to temporarily change its name to “Swiftie Clara” and Swift was even named Honorary Mayor during her visit. With some effort and a cost of $500, Galvin secured two last-minute tickets to an August performance at SoFi Stadium in Inglewood, Los Angeles, where he surprised his daughter with a road trip and an unforgettable concert experience. Galvin, a music tech executive and former DJ, was impressed with the positive atmosphere and the connections his daughter made with other fans, bonding over trading friendship bracelets. The impact of Swift’s concerts goes beyond entertainment, as they generated an estimated $320 million in tourism revenues, taxes, and extra jobs for Los Angeles County. Swift’s influence extends to international leaders vying for her attention and has even spurred academic interest and conference gatherings dedicated to studying her work. Her albums have also made significant impacts on vinyl and music sales, showcasing her enduring influence and appeal.

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