Taylor Swift arrived in Brazil this week with “The Eras Tour” after his stay in Argentina and years of waiting. After having the previous tour directly impacted by the covid-19 pandemic, this “delay” seems to have been a good deal. She was named this year’s billionaire by Forbeswith an estimated net worth of US$1.1 billion after his successful world tour.
Created by North American country, it was in Nashville (Tennessee) that Swift began – in a timid way – to move the local economy and from there, gain space in other states and be recognized by important awards that would take her to another level in the world. of finance: his compositions were considered “gold mine” by the industry and she knew it.
After a 17-year career, she achieved an unprecedented feat: she was the first singer to have her title “billionaire” just with music and shows. To give you an idea, the tour “Ages” by the 33-year-old singer has become a financial phenomenon, grossing US$780 million in ticket sales alone.
With such success, Swift was recognized even by Federal Reserve of Philadelphia as responsible for helping to recover tourism in the region due to the high demand for accommodation.
“Despite the slow recovery in tourism, the month of May was the strongest for hotel revenue in Philadelphia since the start of the pandemic, largely because of the influx of guests during Taylor Swift concerts in the city.”the authority stated in July this year.
Re-recordings and new label as driving force
After waging a legal battle against her former record label Big Machine, Taylor “found” which would later become a trend: re-recording compositions with your own version, without ‘pitacos’ of the old seal. The “Taylor’s Version” formula worked and even raised an alarm for copyright experts, as musical ownership was widely discussed and contracts were reviewed by several artists.
And the numbers show the strength of this trend. When “Fearless Taylor’s Version” was released in April 2021, there were the equivalent of 291,000 albums sold. According to MRC Data, billboardthe new Fearless still had 143 million streams only in the opening week.
In 2018, she signed a contract and made an agreement with the record label Republic Record, linked to Universal Music. Since then, her new albums and videos are signed with her name and she holds 50% of all royalties earned from her new releases. According to Forbesin 2021, the singer earned US$14 million from 2 albums alone, “Folklore” and “Evermore”.
Additionally, the album “Midnights” helped the American artist pocket $230 million in sales for UMG last year, according to JPMorgan Chase & Co.
It represented about 3% of the company’s revenue from recorded music in 2022, with the biggest boost coming in the fourth quarter of the year after the album’s release, according to analysts. They reiterated a recommendation equivalent to buying the stock and raised their estimate for organic sales growth in the last three months of 2022 from 6% to 10%.
The album broke multiple records and should provide a boost in Q4, and Q1 2023, to Universal Music’s growth, JPMorgan analysts wrote. It sold 6 million equivalent albums in 8 weeks and became the 1st album in history to capture the entire Top 10 of billboard from the US, they added.
Concert film boosts US market
The film about Taylor Swift’s Eras Tour dominated theaters over the weekend, grossing $95 million to $97 million in ticket sales in the U.S. and Canada, according to estimates from distributor AMC Theaters on May 12. November.
The film, called “Taylor Swift: The Eras Tour”set a record for concert films, easily surpassing the $29.5 million grossed by “Justin Bieber: Never Say Never” in its first 3 days in 2011.
Still, for theater operators such as AMC and Cineworld, the film provided a big boost to what appeared to be a lackluster film slate this fall after Hollywood strikes caused delays to “Dune: Part Two.” ” and other releases.
Careful investment selection
Taylor Swift was one of the few artists to turn down a $100 million offer to be a promoter for the music exchange. cryptocurrencies FTX, at least that’s what lawyer Adam Moskowitz said, who is filing a joint lawsuit against celebrities who promoted the company.
According to Insiders, Taylor was the only one who questioned whether the securities sold by the company were registered with the United States Securities and Exchange Commission (SEC).
The crypto brokerage went bankrupt in November 2022, after a liquidity crisis. Sam Bankman-Fried, its former CEO was accused of fraud.
Many experts attribute the singer’s position to the experience of her father Scott Swift, who started working at Merrill Lynch in 1980 as a financial consultant and has been working in the financial market for 40 years.
He was responsible for founding the “Swift Group”, a wealth management advisory team — today, Scott is described on the bank’s website as a senior relationship manager.
Investment funds and real estate as an opportunity
Taylor is also known for closely monitoring the real estate market. According to the newspaper NY Post, the North American singer’s portfolio is valued at around R$380 million. She has invested in the real estate market since 2011 and invests in closed-end investment funds. They are similar to the traditional ones. In Brazil, this type of negotiation is more common in real estate funds.
The winner of 12 Grammys invested approximately US$150 million in real estate across New York, Los Angeles, Rhode Island and Nashville.
The first, at the age of 20, Taylor bought an industrial-style apartment, Music Row, which was decorated by the artist herself. Located in the Adelicia building, in Nashville, the open concept property has approximately 301 m², as well as large and tall windows that go from ceiling to floor.
Still in Nashville, Greek Revival is all about the artist’s first phase. Furthermore, the mansion is stunning, with the main house measuring 520 m² and the guest house measuring 185 m², with vaulted ceilings and marble fireplaces.
Furthermore, one of the houses was even more highlighted by the singer’s fans. After the release of the album Lover, in 2019, the lyrics of the song Cornelia Street, which say “I rented a space on Cornelia Street” gained prominence in New York. Built in 1870, the house is made of brick and has a luxurious style with double ceilings, antique Parisian bricks. It is currently available for purchase for US$17.9 million (R$86 million) or for rent for US$45,000 per month.
With information from Investing Brazil.
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