Earned 220 Billion Won from Concert Videos Alone... 'Swiftnomics' Was Real

Taylor Swift Concert Video Earns 220 Billion Won
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American singer Taylor Swift (33), who created the neologism 'Swiftnomics' with an unprecedented scale concert, has reportedly earned over 200 billion won from concert recording footage alone.

According to the U.S. box office tracking site Mojo, the video of Swift's concert 'The Eras Tour,' released on the 12th (local time), generated ticket revenue of $16.49 million (approximately 217 billion won) worldwide over ten days until the 21st.

Of the revenue, 81%, or $129.79 million (approximately 175.6 billion won), was earned in the United States and Canada, with the remainder estimated to come from other countries. The countries where the film was released include the United Kingdom, Germany, Spain, Italy, Portugal, the Czech Republic, Slovakia, Colombia, and New Zealand.

Pop star Taylor Swift passionately performed on stage during the 'Eras Tour' in Inglewood, California, USA, on August 7 (local time). [Image source=AFP Yonhap News]

This is the first time a concert recording video has generated over $100 million in box office revenue in North American theaters. Previously, the 2009 documentary film 'This Is It,' featuring Michael Jackson's concert footage, earned a total worldwide revenue of $261.2 million (approximately 353.4 billion won). It is reported that Taylor Swift's concert video is expected to surpass Michael Jackson's record.

Meanwhile, Swift's The Eras Tour has been ongoing since March this year. The first U.S. tour, which ran until August, attracted over 3 million attendees and reportedly generated over 1 trillion won in ticket revenue alone.

Millions of fans following Swift's performances have increased demand for lodging and dining services in various countries, including North America and Europe, giving rise to the neologism 'Swiftnomics.' The term combines Swift's name with economics.

Swiftnomics refers to the phenomenon where a sudden increase in demand for service industries temporarily boosts the economy. It is reported that The Eras Tour generated an economic effect of over $5 billion in transportation, lodging, food and beverage, and other sectors in more than 20 U.S. cities where the tour took place.

In July, the U.S. Federal Reserve officially mentioned Swiftnomics in its comprehensive economic report, the Beige Book. It highlighted that during the Chicago tour period, public transportation usage increased by 43,000 rides, drawing attention to the economic value created by the concert.

This content was produced with the assistance of AI translation services.