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Taylor Swift’s impact on the economy is having a positive impact on individual companies.
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Swift’s name has been popping up on Wall Street earnings calls recently, often referencing how she’s helped business performance.
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Detailed below are five times Swift has been mentioned by companies in recent months.
Taylor Swift’s impact on the US economy started to become clear last year during the middle of her incredibly popular Era’s Tour, and the impact has spilled over to the bottom line for individual companies.
Swift’s 60-show tour across the US generated a record $1.04 billion in sales, with a total 4.3 million tickets sold at an average price of $238.95. And now fans are listening to today’s release of her new album, “The Tortured Poets Department.
The knock-on effect of that tour led to a surge in hotel bookings in certain cities, which even caught the attention of the Federal Reserve.
Individual companies are starting to take notice too, with several mentioning Swift on Wall Street earnings calls in recent months to help explain the underlying strength of their business performance.
These are the five times Swift has been mentioned on Wall Street recently:
1. Lyft
“Fans flocked to stadiums, with these rides growing by more than 35% year-over-year, driven by high-attendance stadium events including Taylor Swift and Beyonce concerts,” Lyft said in its fourth-quarter earnings report in February.
2. AMC Entertainment
“What is particularly noteworthy is how much AMC benefited from our trailblazing industry leading efforts with our highly successful distribution of two concert movies TAYLOR SWIFT | THE ERAS TOUR and RENAISSANCE: A FILM BY BEYONCÉ,” AMC Entertainment CEO Adam Aron said in the company’s fourth-quarter earnings report in February.
“All of that increase in AMC’s Revenue and EBITDA is attributable to our having shown these two movies in our theatres in the U.S. and internationally,” Aron said.
3. Disney
“Over the past year, we’ve all witnessed the creative genius and sheer power of a true cultural phenomenon Taylor Swift,” Disney CEO Bob Iger said on the company’s first-quarter earnings call in February.
Disney secured the exclusive streaming rights to Taylor Swift’s Eras Tour concert movie for Disney+.
“We know audiences are going to absolutely love the chance to relive the electrifying Taylor Swift: The Eras Tour (Taylor’s Version) whenever they want on Disney+,” Iger said.
4. National Bank Holdings
“In terms of markets, I’m really proud of our team and the Midwest based out of Kansas City. We’ve seen really nice growth coming out of that market. We’ve historically described that market as kind of middle of the road solid player, but that’s a market that’s really stepped up,” National Bank Holdings CEO Timothy Laney said on his company’s fourth-quarter earnings call in January.
“I jokingly say, I think it’s got something to do with Taylor Swift and the Chiefs, but there is momentum int hat market that we’re benefiting from,” Laney said.
5. Live Nation
“Every 18 and 16 year-old in the world that has a TikTok wants to see Drake and Taylor Swift. We think we’re at the start of a new revolution,” Live Nation CEO Michael Rapino said, according to CNBC.
Read the original article on Business Insider