Taylor Swift’s influence pushes entertainment stocks higher

Bloomberg – Taylor Swift’s blistering popularity is boosting stock prices on both sides of the Atlantic. Shares of CTS Eventim have soared in recent days after the German events company announced that profits will be boosted by strong advance ticket sales for Swift’s “The Eras Tour.”

On Friday (6), US company AMC Entertainment Holdings said it had sold more than US$100 million in advance tickets for the hit movie, sending its shares up nearly 6%.

“Demand for supply film”Taylor Swift – Tour of the Ages’ It was incredible from the moment it was announced, according to AMC. Registered company Highest single-day ticket revenues in its 103-year history Within 24 hours of the film’s release.

a Bloomberg Economics It is estimated that fans of Swift – known as Swifties – and superstar Beyoncé added $5.4 billion to US GDP in the third quarter as they spent on the singers’ concerts.

A Taylor Swift fan spends, on average, $1,500 to attend a concert, including tickets, accommodations, transportation, and food.

The Eras Tour concert film will begin showing in most of the 8,500 confirmed cinemas in 100 countries on October 13.

The cinematic release comes after more than 3 million fans attended the first of the two legs of the US tour. Swift’s performances are expected to continue around the world Raising one billion US dollars.

Beyoncé’s tour is scheduled to hit cinema screens on December 1 in the United States, Canada and Mexico.

See more at bloomberg.com

Read also:

From Taylor Swift to Beyoncé: Live Nation profits from the shows, but is in the government’s crosshairs

What do Missy and Taylor Swift have in common? The answer is in ticket prices

How Taylor Swift and other stars can earn more from streaming platforms