The economic impact of having popstar Taylor Swift perform in a city is close to the boost it would get from hosting a Super Bowl, according to a new report from the Bank of America Institute.
AI tools revolutionizing content creation — Including an Emmy-winning breakthrough, says exec
The bank’s think tank published a report Tuesday (Jan. 30) analyzing internal credit and debit card data to demonstrate how much stadium events boosted spending at local businesses. The report specifically compared the impact of two stops of Taylor Swift’s stadium tour in Pittsburgh and the 2023 Super Bowl in Phoenix.
Taylor Swift’s Eras Tour became the first tour to gross over $1 billion. In addition, the ongoing 151-show tour—which averaged 54,000 attendees each show during its first American leg—is estimated to have generated $4.6 billion in consumer spending in the US.
Focusing on Pittsburgh, Bank of America found that spending at restaurants and bars in the city during the weekend of the shows jumped 13% year-over-year. On average, the concerts generated $77 in spending at restaurants and $56 at bars per household. Overall, spending at brick-and-mortar business in the city rose about 3% due to Swift’s concerts.
By comparison, the 2023 Super Bowl in Phoenix spurred an average of $96 in restaurant spending and $74 in bars per household during the equivalent period the year before. That translates to an increase of 25.6% year-over-year in restaurant and bar sales and a jump of 13% in all in-person retail sales.
The report is another example of the power Swift wields over the economy. And it comes just days before Swift’s boyfriend, Kansas City Chiefs tight end Travis Kelce, is set to compete at the 2024 Super Bowl on Sunday (Feb. 11) against the San Francisco 49ers. A separate report found that the couple alone has generated $331.5 million in brand value for the Chiefs and the NFL.
