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The 'Swiftonomics' of Taylor Swift ahead of new album

Scripps News explores the big economic impact Swift makes wherever she goes and with whatever she does.
The 'Swiftonomics' of Taylor Swift ahead of new album
Posted at 5:55 PM, Apr 18, 2024

Through mysterious social media posts, a pop-up installation in Los Angeles, and a real-life scavenger hunt across the world, pop star Taylor Swift is summoning her community of fans — better known as "Swifties"— for her latest album entitled “The Tortured Poets Department.”

"What we see now as Taylor — this unprecedented artist of today — is the byproduct or the result of having invested so much time in her community over the years," said marketing expert Marcus Collins. "People feel like 'I'm talking to my friend, like Taylor, that's my girl!'"

Collins is the author of the bestselling book "For the Culture," a marketing professor at the University of Michigan and the former digital strategist for Beyoncé. He says that Swift has "unique relationships with her fans" that feels more personal, especially as the singer-songwriter drops clues, Easter eggs and pieces of songwriting lore specifically for the fans that love piecing it all together.

"More than just 'artist to fan,' but it's almost 'community member to community member,'" described Collins. 

The market research company QuestionPro says Swifties spent about $1,300 per "Eras Tour" show in 2023, with 91% of those surveyed saying they’d go again. 

Experts say fans like Swifties help drive the live-events industry and boost local economies around the country. The U.S. Travel Association estimates that the total economic impact of the Eras Tour was $10 billion.

"If history is any indication, wherever she takes us, we're going to be walking shoulder-to-shoulder with her," said Collins. "I think that's going to be well-received and perhaps be sort of the next chapter of the Taylor Swift saga."

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