Pop star Taylor Swift has taken ownership of her music, built a fiercely loyal fan base, and become a billionaire. The podcast discusses her astute business decisions, her battle to regain control of her music catalog, the success of her re-recordings, and her influence on NFL viewership and sales. It also explores the meticulous process of evaluating her wealth and discusses her future plans, including her transition from country to pop and her upcoming international tour.
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Quick takeaways
Taylor Swift achieved billionaire status through the success of her music alone, unlike other billionaires in the entertainment industry who rely on external business ventures.
Taylor Swift's decision to re-record her entire catalog not only allowed her to regain ownership of her music but also attracted double sales from fans who already owned the original recordings.
Deep dives
Taylor Swift's Astute Business Decisions Lead to Billionaire Status
Taylor Swift has made smart business decisions and displayed a high tolerance for taking risks throughout her career, leading her to achieve billionaire status at the age of 33. Unlike many other entertainers who have become billionaires through business ventures outside of their art, Taylor Swift has achieved this based on the success of her music alone.
The Lucrative Success of Taylor Swift's Ers Tour
Taylor Swift's Ers tour, which capitalized on the demand for live music following the pandemic, has proven to be an enormous financial success. The tour, which celebrated her entire catalog and career, brought in over $700 million in ticket sales alone. Additionally, the tour made a significant economic impact, contributing $4.3 billion to the North American GDP.
Taylor Swift Takes Control of Her Music Catalog
After losing control of the masters to her first six albums, Taylor Swift made the bold decision to re-record her entire catalog in order to regain ownership of her music. Through these re-recordings, she has not only reasserted control over her music, but has also created new versions that include additional songs and attract double sales from fans who already own the original recordings.
Taylor Swift's Business Savvy and Relatable Persona Drive Success
Taylor Swift's success can be attributed not only to her business savvy and shrewd decision-making, but also to her ability to connect with her fans on a personal level. With a strong social media presence and a knack for engaging her audience, Swift has cultivated a passionate fan base who consistently support her music, attend her concerts, and purchase her merchandise.
Taylor Swift’s monumental success is due to her talent as a performer — as well as her business acumen. Bloomberg’s Devon Pendleton and Claire Ballentine join this episode to talk about how the pop star has taken ownership of her music, built a fiercely loyal fan base–and become a billionaire in the process.