NB

Dear Reader,

In 2023 Beyoncé and Taylor Swift dominated the music industry with record breaking albums and sold out world tours. Beyoncé’s Renaissance World Tour and Taylor Swift’s, The Eras Tour broke records with both tours ranking in Boardroom’s top 10 highest grossing world tours of all time. The Renaissance World tour had a gross revenue of $579 million dollars with 56 shows across the span of 5 months making it the 8th highest grossing tour of all time. Taylor Swift’s The Eras Tour had a gross revenue of $1.04 billion dollars with 60 shows in the US and South America, ranking above Elton John’s Farewell Yellow Brick Road Tour which previously held the #1 spot as the highest grossing tour of all time. However, The Eras Tour is projected to gross over 2 billion dollars as the 2023 portion of the tour was less than half of approximately 160 tour dates. Both Taylor and Beyoncé’s record breaking tours have had a significant economic impact on local and state economies in the cities they toured in. According to Forbes, The Renaissance World Tour made over $179 million dollars each month and by the end of the tour Beyoncé had contributed $4.5 billion dollars to the American economy. These numbers only get larger with the Eras Tour generating $5 billion in consumer spending in the United States alone according to an article by Time Magazine. Both tours also increased sales in local businesses and restaurants, merchandise, and travel with Time stating, swifties spend an estimated amount of $1,300-$1,500 per person each show. These tours have had significant impacts on the economy and the music industry setting new records for future tours. The impact of Beyoncé and Taylor Swift will only continue to grow over the years.