Let's face it. This is Taylor Swift's economy. The rest of us just work in it.
The reigning monarch of American music announced this week that a film version of her record-smashingwould be released this October in AMC theaters. Shares of AMC jumped on the news. As of Friday, the share price was up 9 percent. in ticket sales for the announced 52 tour dates. This would have made it the fourth highest grossing tour, according to Billboard estimates.
Even that understates what people are spending to see Taylor Swift. The U.S. face value of Eras tour tickets ranges between $49 to $499.which relied on data from analytics firm TicketIQ. Multiply that by the average of 54,000 fans attending every stop of her concert and you are talking serious money.that Americans are spending a lot more on live entertainment this summer than last summer.
. Compared with a year ago, prices for live entertainment ex-sports are up 2.4 percent, according to the personal consumption expenditure price index. In other words, there’s been a real expansion in the consumption of concerts during this era of Swift.Americans are also spending a lot more on prescription drugs this summer than last summer.spending on prescription drugs was up 9.8 percentThis is unlikely to be the result of people being much less healthy than they were a year ago.
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