Philadelphia bank reports surge in hotel revenue amid Taylor Swift's Eras Tour as singer set to make $4.1 billion
LOS ANGELES, CALIFORNIA: It’s no secret that Taylor Swift’s ongoing Eras Tour is a huge success and is going to make record money.
As per reports, the tour is already being referred to as ‘the most lucrative stadium-filler in history’ and is expected to add around $4.1 billion to the ‘Karma’ singer’s net value.
How much did Eras tour films make from advance booking?
The 33-year-old is expected to make more as the Eras Tour film hits theaters this weekend. The movie is a hit as over $80 million in bookings have come from advance sales.
In a post on X, formerly known as Twitter, Adam Aron, who is chief executive of cinema chain AMC, said the deal was “a monumental development for our company.”
Meanwhile, rival chain Cinemark claimed that the pre-sales are 10 times higher than for any previous 'event showing,' as per Daily Mail.
Interestingly, Beyonce is said to have already reached a deal with AMC to screen her Renaissance tour.
Coming to her home state, Pennsylvania, the Federal Reserve Bank of Philadelphia mentioned in a financial report that there has been ‘a significant surge in hotel revenue’ in recent times.
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How much did the touring cities benefit from Taylor Swift's shows?
In Cincinnati alone, there has been a $48 million boost, as per the Cincinnati Regional Chamber’s Center for Research and Data. Los Angeles recorded approximately an additional $320 million where she performed six shows.
The film will cover all of her 52-stop tour across America and is anticipated to bag $196 million during its run.The new age icon has ditched Hollywood's movie distributors by cutting them out and rather going directly with cinema chains.
However, her fans will have to wait longer despite Swift's wish to bring it at the earliest. The delay is due to Hollywood's writers and actors' strikes which will push it to 2025.
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Swift's record success is majorly contributed to the share of the revenue from her tour which is believed to be industry-standard 85 per cent.
Ticket prices alone on average are $450, and every stadium is packed!
It is from where the major chunk of earnings comes, but the impact on the wider economy has been pegged at nearly $93 million per show. QuestionPro, a software company, came up with these figures.
Swift is currently dating NFL star Travis Kelce and has also been cheering for him from the stadium.