Taylor Swift's star-studded Eras Tour has been a success since it started in March. Set to end this November, the pricey ticket didn't stop fans from seeing the country singer turned pop star; just like Beyoncé's fans with the more lucrative Renaissance Tour that started the same month and is set to end in October.
Still, some people have serious issues with Swift's expensive concert tickets which were initially $49 to $449 and are now $800 to $11,000. While it's the promoters that decide these prices to ensure all artists, venues, and ticketing companies profit from the concerts (if not the scalpers), a fan shared a theory about the All Too Well hitmaker's father causing all of this.
Here's how the 12-time Grammy winner's investment banker dad, Scott Kingsley Swift, allegedly "bought" her "unearned" popularity.
How Did Taylor Swift Get Discovered?
Swift started her music career at a young age. At 14, she was the youngest artist signed by Sony/ATV publishing house after working with songwriter, Liz Rose on Tuesday afternoons after school in Nashville. In 2005, now 16 years old, the Blank Space performer was discovered by Scott Borchetta, an executive of Big Machine Records from which Swift's dad bought a three percent share.
In October 2006, months before releasing her first single Tim McGraw, the Valentine's Day star dropped her self-titled album which peaked at number 5 on the US Billboard 200. Her next two EPs, The Taylor Swift Holiday Collection and Beautiful Eyes also won some accolades.
In 2007, she became the youngest person to be given the BMI Songwriter of the Year award. That year, she also won at the CMAs, ACMs, and the AMAs, along with a Grammy nomination for Best New Artist. Her second album, Fearless, came out the following year.
Its lead single, Love Story, peaked at the 4th spot on the Billboard Hot 100 while the second single You Belong With Me peaked at number 2. The album was number one on the Billboard 200 and was the top-selling album of 2009 in the United States. She would continue to dominate the charts with her award-winning albums: Speak Now, Red, 1989, Reputation, Lover, Folklore, and Evermore.
What Is The Fan Theory On Taylor Swift's "Unearned" Popularity?
In a Reddit sub called Pop Heads Circle Jerk, a member posted that they "have cracked the code of Taylor Swift's ticket prices," alongside a screenshot of their conversation with a friend who suggested that Swift's dad was behind it all. "I have a new schizo theory that explains Taylor swifts unearned popularity," texted the friend.
"So, I learned that Bruce Springsteen would buy his own tickets and resell them at a higher price," they continued. "It is known that Taylor's dad bought 100,000 copies of her first single to get her attention. He's an investment banker so it tracks." The Redditor replied, "Wait this makes sense actually," adding, "I've missed these, maybe unemployment suits you."
The friend went on to explain his theory: "2.4 million tickets sold first day eras tour went on sale. Even if her and her dad hired some guy to program bought to buy 5% of those pre sales (120k tix) at like $200 avg ($24m) and then resold them at $500avg, those f****** made $36 million profit."
Many other users thought the theory made sense. But a Swiftie wrote: "Ticket prices are high because swifties would sell their grandma for pit tickets Her manager and the promoters decide the prices. If she loved them so much she could make them cheaper." That was actually confirmed by the LA Times.
The promoters, who "are the connection between the act and the venue," wrote the outlet, "officially set the ticket prices, and they take on the loss if the concert doesn't generate enough ticket sales to cover what the artist has been guaranteed. They organize and publicize the shows, and those costs go into the price of the ticket."
How Much Did Taylor Swift Make From Her Eras Tour 2023?
Based on CooPWB's reports, the projected gross of the Eras Tour is $1 billion, with an average earning per night of $13 million on all 131 shows. That's $100 million in merchandise sales and over $300 million in total tour earnings. Part of the tour's profits is set to be donated to various charities supported by Swift.
This $1 billion tour gross (recently projected to be $1.4 billion due to added dates) will surpass Elton John's record of $853 million from his Farewell Yellow Brick Road Tour (2018-2020, 2022-present). Total spending on Swift's record-breaking tour is reportedly $5 billion based on surveys. That's bigger than the gross domestic product of 50 countries, per Billboard (via CNBC).
Meanwhile, Beyoncé's Renaissance Tour is expected to make more than $2 billion by its end in October. It has made $461.2 million as of mid-August.
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