Taylor Swift Is TIME's Person of the Year, a Billionaire and Boon to the Economy — Here Are the Brands She's Given a Major Boost The singer-songwriter superstar is in her business savvy era.
By Amanda Breen
Key Takeaways
- At 33, Taylor Swift was named TIME’s Person of the Year, celebrating her storied journey filled with challenges and redemption.
- Swift's Eras Tour, an innovative retrospective of her artistic journey, is projected to be the most significant tour ever, potentially grossing over $1 billion.
- Beyond her music, Swift has had a considerable influence on various industries, from economic surges to academic discussions on her work's literary qualities.
Taylor Swift is in her Person of the Year era. TIME just gave the 33-year-old superstar the coveted title for 2023, capping off a milestone year Swift calls "the breakthrough moment of her career."
Swift's narrative has captured the public's attention like no other, according to the outlet. And while there's no doubt the singer-songwriter has a talent for storytelling, she also has a head for business: She officially entered her billionaire era this year too — and helped invigorate other brands along the way.
Related: 3 Millennial Marketing Tips From Taylor Swift
Swift took the entertainment industry by storm with the Eras Tour, playing 66 dates across the Americas, a tour that is not just a concert series but an epic narrative encompassing her evolution as an artist. Fans around the world constantly analyze her every move, decoding the layers of storytelling within her work, revealing the profound impact she has on her audience.
The "Taylor Swift effect" is undeniable, with economists pointing to her influence on economic growth and political figures recognizing the boost she brings to local economies during her tour dates. Swift's influence permeates to such an extent that it can be seen in football viewership spikes (courtesy of her relationship with Travis Kelce) and massive increases in craft store sales driven by lyrics in her songs.
Image Credit: Buda Mendes/TAS23 | Getty Images
Swift's success has also given fashion brands a major boost. Free People, Reformation and Hill House are some of the relatively affordable brands she's donned, with the latter experiencing the full power of the "Taylor Swift Effect" when she wore a matching set to collaborator Jack Antonoff's rehearsal dinner; the "nap top" ($125) and midi skirt ($175) sold out in less than two hours, The Wall Street Journal reported.
Luxury fashion brands have also benefited from Swift's favor, including handbag and shoe brand Mansur Gavriel, which has sold out three bags that appeared on the artist's arm, and clothing brand Area, which sold out of a pair of crystal-embellished jeans shorts and jeans — both of which retail for $695.
Related: 4 Personal Branding Lessons Leaders Can Learn From Taylor Swift
"This is the proudest and happiest I've ever felt, and the most creatively fulfilled and free I've ever been," Swift told TIME. "Ultimately, we can convolute it all we want, or try to overcomplicate it, but there's only one question…'Are you not entertained?'"
