Cultural phenomenon Taylor Swift is now a billionaire, according to Bloomberg.
Swift’s total net worth has increased to $1.1 billion, according to the publication that maintains the Bloomberg Billionaires Index, as a result of her historic Eras tour, which contributed to the US economy’s summertime boom.
Swift is one of the few artists to achieve that level based only on her performance and song.
The Eras tour could gross $2.2 billion in North American ticket sales alone, according to August survey data from research firm QuestionPro provided to CNN exclusively. That unprecedented total represents primary ticket sales for the US shows that Swift just concluded in Los Angeles, plus a second North American leg coming next year. That would make it the highest-grossing tour ever.
With the release of ‘Speak Now (Taylor’s Version),’ Swift became the first woman to have four albums in the Top 10 charts at the same time, and the first artist since the Beatles to have songs from three separate albums simultaneously in the Top 10.
“Astonishing, I suppose, is an understatement when it comes to describing Taylor’s breathtaking talent, popularity and career,” Universal Music Chairman and CEO Lucian Grainge said during the investor call, adding that Swift’s ‘1989 (Taylor’s Version)’ will be released on Friday.
Grainge touted Universal’s efforts to improve the economics of streaming and promote the responsible use of artificial intelligence. He held up the new “artist-centric” deal signed with French music streaming service Deezer as one that rewards the artists who attract and engage fans by boosting their song streams while depriving “noise” of royalties.
Universal Music and a number of its artists also partnered with YouTube on a Music AI Incubator, to explore how to use the technology to enhance artist creativity.“Unlike past instances when new technology was released into the world and the music community was left to figure out how to develop a business model that would protect artists’ rights and compensation, here, thanks to our close relationship with YouTube, we’re collaborating on opportunities and solutions,” Grainge said.
