Taylor Swift's tour could generate more revenue than office space giant WeWork's entire market value — in just six nights, according to Insider.
This is according to a new study by the California Center for Jobs & The Economy, which estimates that Swift's Eras Tour will give a $320 million boost to Los Angeles County's gross domestic product.
The report found that Swift's upcoming concerts in Inglewood, Los Angeles, are expected to create 3,300 jobs and generate $160 million in local earnings. The report assumed six nights of sold-out attendance at SoFi stadium, an average ticket price of $700, an average concertgoer spending $1,300, and an average hotel-room rate of $300 on concert nights.
The study also considered the indirect effects of the concerts, such as the taxes paid by the concert organizers, the income generated by ticket resales, and the money that will flow through the local economy.
Swift's record-breaking tour has had a significant impact on the economy, according to the Federal Reserve's Beige Book. In Philadelphia, a local reported that hotel revenue in July was the highest it had been since the pandemic began, primarily due to an influx of fans attending the singer's concerts.
The study comes as Swift announces the release of her re-recorded album, "1989 (Taylor's Version)," which is due out Oct. 27 — exactly nine years after the release of the original 1989, Entertainment Weekly noted.
The album will feature 21 songs, including five never-before-released "vault tracks."
Speaking onstage at the final stop on the U.S. leg of her Eras Tour at SoFi Stadium in Los Angeles on Wednesday, Swift thanked her fans for supporting her endeavor to re-record her music.
"Since I was a teenager, I wanted to own my music and the way to do it was to re-record my albums and call them 'Taylor's Version.' And the way that you have embraced that, the way that you have celebrated that, you really decided that it was your fight, too, and that you were 100 percent behind me and that if I cared about it, you cared about it," she said. "I will never stop thanking you for that.
"It was so generous. And so now here we are at the last night of the U.S. leg of the Eras Tour in the eighth month of the year, on the ninth day of the month."