2023 has been the year of Taylor Swift. The superstar has had a major impact on the U.S. economy, including the NFL, financial, film, entertainment industry, and so much more. Yahoo Finance spoke to experts across the industry as part of its special coverage, "The Taylor-Made Economy." As Yahoo Finance's Alexandra Canal says, "You can't really replicate it. This is the pop star of our generation."
Yahoo Finance’s Josh Schafer broke down the "Swift effect" as it relates to financial coverage. Schafer said, "She's been in financial news really throughout the summer."
Enders Analysis Music Industry Analyst Alice Enders believes that Swift's close relationship with her fans has a direct impact on ticket sales. Enders explained, "With 150 (or so) shows across the world, we're just starting to see the real impact."
Taylor Swift's Eras Tour film hits theaters on October 12. The film has already sold out 350 IMAX (IMAX) showings across 45 global markets. IMAX CEO Richard Gelfond said, "It's definitely a milestone in the history of cinema."
Yahoo Sports Senior NFL Reporter Jori Epstein broke down Swift's impact on the NFL and how the two are benefitting from each other. Epstein explained, "This is a growth opportunity for them and the audience in a way that men maybe 18-34 are not."
TickPick VP of Growth Matt Ferrel elaborated on Swift's impact on the NFL and the resale ticket market. Ferrel said, "(The New York Jets game) was one of our top selling games of the year once the announcement was made that Taylor was going to be there."
Marcus Collins, University of Michigan Ross School of Business Marketing Professor, broke down the marketing power of Swift, which is fueled by her loyal fans. Collins explained, "Her personhood becomes a way by which they represent their identity. And that's super powerful."
Video highlights:
00:00:04 - Yahoo Finance's Alexandra Canal
00:00:13 - Yahoo Finance’s Josh Schafer
00:00:41 - Enders Analysis Music Industry Analyst Alice Enders
00:01:05 - IMAX CEO Richard Gelfond
00:01:18 - Yahoo Sports Senior NFL Reporter Jori Epstein
00:01:38 - TickPick VP of Growth Matt Ferrel
00:01:51 - University of Michigan Ross School of Business Marketing Professor Marcus Collins
Click here to watch this full episode of Yahoo Finance Live.
Video Transcript
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ALEXANDRA CANAL: The touch points that she has is just remarkable, and it seems like you can't really replicate it. This is the pop star of our generation.
JOSH SCHAFER: She's been in our news. She's been in financial news really throughout the summer. So if we take a look at a timeline of when we started seeing Taylor Swift, we know that Eras story really started in the spring. So then it trickles into economic data into the summer. She was mentioned in the Fed Beige Book. Moody's called out Taylor Swift. There was a question to Fed Chair Jerome Powell about the Taylor Swift impact. And then Morgan Stanley highlighting at the end of the summer that the end of the Eras Tour is going to mean slower consumption.
ALICE ENDERS: One of the most important things about Taylor is that she cultivates an incredibly strong relationship, direct relationship with her fans. There are so many reasons for her fans to get really excited about seeing her. And with 150 some shows across the world, you know, it's-- we're just starting to see the real impact.
RICHARD GELFOND: I don't think there's ever been a concert film like this ever before. It's definitely a milestone kind of in the history of cinema in terms of excitement around a concert movie.
JORI EPSTEIN: These are two of America's biggest entertainment brands with an opportunity to cross over. Why not? Why not lean into it? Why not have fun with video, image, and photos of Taylor and Travis Kelce's mom? So, I mean, that's great. So they definitely realize this is a growth opportunity for them in the audience in a way that maybe men 18 to 34 are not.
MATT FERREL: We did see a fairly substantial rise for the Jets game. And it was one of our top selling games of the year once the announcement was made that Taylor was going to be there. She brings a fan base of her own outside of the NFL audience.
MARCUS COLLINS: She's cultivated a community, not just fans who like the music, but a group of people who self-identify by their membership in the community, i.e. Swifties. And her personhood becomes a way by which they represent their identity. And that's super powerful.
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