- Taylor Swift is on her way to reaching an unprecedented milestone in the music industry with her world tour “Eras Tour”, surpassing Elton John’s record and grossing more than $1 billion.
- This achievement could change the landscape of the music industry, raising ticket prices and show revenue.
- The market for stadium concerts is booming, but only the most prominent artists concentrate the income.
In the midst of a very high expectation for the arrival in Mexico between August 24 and 27, 2023, Taylor Swift is on her way to reaching an unprecedented milestone in the music industry.
With his current world tour, the “Eras Tour”, the pop superstar is on his way to grossing more than one billion dollars, surpassing the record held so far by the British Elton John.
This achievement would not only set a new standard for concert tours globally, it could also influence the landscape of the music industry, further raising ticket prices and revenue from shows.
Music industry insiders, who have been closely monitoring Taylor Swift’s tour revenue for months, told the Wall Street Journal that unlike the usual practice of reporting revenue to Billboard Boxscore, Swift is not immediately disclosing the information.
This is raising speculation about how much profit the pop superstar’s new tour is really turning in.
Taylor Swift, “Eras Tour” and the most successful tour in the world
Swift’s success comes at a time when the arena market is experiencing an unprecedented boom, with stars like Beyoncé and Madonna leading the highest-grossing tours.
Concert revenues on these tours are reaching historically high levels, as artists charge higher prices for general tickets, coupled with preferred seats and VIP packages.
This phenomenon has led, according to the American media, to a greater concentration of income in the concerts of the most outstanding artists, while smaller shows at clubs, amphitheaters, and music festivals lose revenue and profit.
In recent months, Swift has announced new international dates that will take her to South America, Asia, Australia and Europe, in addition to her original 52 concerts in the United States.
In total, there will be 106 concerts, including the last show in London in the summer of 2024. Even more dates may be added to the tour.
As we said before, the current record for the highest-grossing world tour is held by Elton John with his “Farewell Yellow Brick Road Tour,” which grossed $880 million. “However, Swift is on track to surpass this figure and possibly reach $1 billion in revenue,” says the WSJ.
Elton John’s tour surpassed the “Divide Tour” of the previous record holder, Ed Sheeran, who grossed about $770 million between 2017 and 2019.
In December, a Billboard article estimated that Swift’s 52 US dates would gross around $590 million.
The average ticket price for US dates is $215.
Now read:
A president asks Taylor Swift on Instagram to include his country in the tour
Taylor Swift: Fans report ticket resale for up to 100,000 pesos
By mistake, Taylor Swift swallows a singing insect