Taylor Swift first appeared in public in the mid-2000s when she was just 16 years old. The first song she released was “Tim McGraw” which served as the launchpad for her successful music career ¹Encyclopædia Britannica, inc. (n.d.). Tim McGraw. Encyclopædia Britannica. Retrieved from https://www.britannica.com/topic/Tim-McGraw-song-by-Swift. On August 9, 2023, Taylor Swift announced the release of her album “1989”. Subsequently, on October 27, 2023 through Republic Records, Taylor Swift released the re-recorded version of her fourth album, “1989 (Taylor’s Version).” This album is a re-recording of her fifth studio album, “1989” (2014), following “Speak Now” which was released in July 2023.

These albums have been streamed more than one billion times on streaming services, surpassing the original versions. They reflect an emotional journey of memories and loss, combining various musical influences and lyrics. This has created a strong connection with her listeners, making the “Swifties” very excited about the re-release of albums they first heard about a decade ago ²Freeman, R. (2023, August 11). The return of a pop music masterpiece. BBC News. Retrieved from https://www.bbc.com/culture/article/20230811-taylor-swifts-1989-the-greatest-pop-album-of-all-time. Fan enthusiasm is evident not only from the number of album listeners but also from the number of Swifties attending her concerts. The “Zany Persona,” popularized by Sianne Ngai in her work Our Aesthetic Categories (2012), can be seen as a driving force in highlighting Swift’s performance as a musician ³Wilkinson, M. (2019). ‘Taylor Swift: The Hardest Working, zaniest girl in show business….’ Celebrity Studies, 10(3), 441–444. https://doi.org/10.1080/19392397.2019.1630160. This persona is characterized by a performative, comedic, and sometimes exaggerated demeanor, all of which align with neoliberal values such as adaptability and effort. This fabrication allows Swift to maintain her “authenticity” despite significant shifts in her branding, moving from country music to pop. She also exemplifies this zany persona through assertive actions in business matters. For instance, during the promotion of her album 1989 in 2015, she wrote an open letter to Apple Music regarding artist compensation, criticizing the company’s unfair practices. Apple quickly responded, and Swift later became a spokesperson for Apple products.

Fan Enthusiasm

Taylor Swift’s career and persona are two elements she has expertly mastered, which is what makes the foundation of her fanbase so strong. Swift’s persona is crafted through “personal” and emotional interactions on social media, seeking support and fostering solidarity ⁴Théberge, P. (2021). Love and Business: Taylor Swift as celebrity, businesswoman, and advocate. Contemporary Music Review, 40(1), 41–59. https://doi.org/10.1080/07494467.2021.1945227. These various forms of engagement have contributed to the complex parasocial relationship between Swift and her fans, known as Swifties ⁵Horton, D., & Wohl, R. R. (1956). Mass Communication and Para-Social Interaction. Psychiatry, 19(3), 215–229. https://doi.org/10.1080/00332747.1956.11023049. This complexity, which extends “beyond music,” gives Swift the ability to successfully market non-musical products such as concert experiences, brand partnerships, and more structured business collaborations like those with Target and UPS for album releases.

The intricate relationship between Swift and her fans can be observed through the numerous forms of gratification within this connection ⁶Zafina, N., & Sinha, A. (2024). Celebrity-fan relationship: studying Taylor Swift and Indonesian Swifties’ parasocial relationships on social media. Media Asia, 1–15. https://doi.org/10.1080/01296612.2024.2304422. Social media serves as a one-sided—though ideally two-way—platform for Swift to share emotionally charged content with her fans. Despite being in an imaginary relationship, fans feel valued by Swift. Her social media posts, whether photos, videos, or other forms of content, are seen as entertainment by her followers—every single one of them. This image is further shaped by Swift’s personal stories, including those about her family, cats, iconic romantic relationships, and even public feuds. According to Fogarty and Arnold (2021) ⁷Fogarty, M., & Arnold, G. (2021). Are you ready for it? Re-Evaluating Taylor Swift. Contemporary Music Review, 40(1), 1–10. https://doi.org/10.1080/07494467.2021.1976586, this carefully crafted narrative helps Swift maintain her “authenticity” with a multipersonal image—ranging from the innocent girl, to career woman, to even “witch.”

What we should know about Swiftonomics?

The enthusiasm for these concerts has drawn attention from various countries due to the economic spillover effects ⁸Soesmanto, T. (2024, July 12). Swiftonomics: What we can learn from Singapore multiplying millions from Taylor Swift’s eras tour. The Conversation. Retrieved from https://theconversation.com/swiftonomics-what-we-can-learn-from-singapore-multiplying-millions-from-taylor-swifts-eras-tour-228289. In 2023, Swift embarked on her Era Tour, a global concert series that has become the highest-grossing tour of all time, generating more than $1 billion to date. The Era Tour has not only impacted the economy of the United States but also provided significant economic boosts overseas. Swift’s visit to Tokyo is expected to generate $228 million for Japan’s economy, with $162.7 million directly benefiting the city ⁹Mitra, M. (n.d.). Swiftonomics: The Economic Influence of Taylor Swift. Investopedia. Retrieved from https://www.investopedia.com/swiftonomics-definition-8601178#:~:text=%22Generating%20%245%20Billion%2C%20The%20Taylor,for%20Jobs%20and%20The%20Economy. Her visit to Mexico City is projected to generate over $59 million. Additionally, hotels in Edinburgh, Liverpool, and Cardiff are sold out for the U.K. leg of the tour in 2024. Although there are no concerts in New Zealand, Air New Zealand added more than 2,000 seats to accommodate the surge in demand after Swift announced her visit to Australia. Due to Taylor Swift’s economic impact, a term has emerged to describe this phenomenon, known as Swiftonomics.

A Trade and Industry Brief on the phenomenon of music concerts, particularly focusing on Coldplay and Taylor Swift, was published by LPEM FEB UI in an effort to highlight the economic impact of a frequently underestimated economic sub-sector. Titled “The Economic Impact of Music Concerts: Taylor Swift and Coldplay in Indonesia and Singapore,” the brief by Revindo et al. introduces the economic effects by presenting various statistics, such as the economic boost from the “ticket war” during Coldplay’s 2023 concert ¹⁰Revindo, M. D., Siregar, C. H., Yuliana, T., & Kurniawan, Y. R. (2024, March). Dampak ekonomi penyelenggaraan pertunjukan musik: Konser Taylor Swift dan Coldplay di Indonesia dan Singapura. Lembaga Penyelidikan Ekonomi dan Masyarakat, Fakultas Ekonomi dan Bisnis, Universitas Indonesia. Retrieved from https://www.lpem.org/wp-content/uploads/2024/03/Special_Report_Bisnis_Pertunjukan_Case_CP_dan_TS-V9.pdf. Approximately 70,000 tickets were sought by 1.7 million individuals. However, researchers raised concerns that relying on such phenomena without proper regulation fails to incentivize the broader economy. Issues like ticket scalping, fraud, and the high costs and difficulty of securing venue permits remain characteristic challenges of Indonesia’s concert culture. This stands in contrast to Taylor Swift’s concerts in Singapore, where an exclusive contract mechanism was utilized. The Eras Tour became the only stop in Southeast Asia, with Swift performing six concerts, each generating economic benefits ranging from 2 to 3 million USD (approximately Rp 31.3 billion to Rp 46.9 billion) per concert.

The Craftiness of Singapore 

Singapore is not a large country, with an area of about 725 square kilometers. In contrast, Indonesia covers approximately 1,904,569 square kilometers, making Indonesia about 2,623 times larger than Singapore. Despite its small geographic size, Singapore boasts excellent tourism infrastructure and hosts numerous major international events, including large concerts.

Singapore’s strategic acumen has garnered significant global attention. Notably, Singapore became the sole Southeast Asian destination for Taylor Swift’s Era Tour. This exclusive deal was negotiated by a local agency, causing a regional stir and prompting a response from Filipino legislator Joey Salceda, who remarked that “this is not the behavior of a good neighbor” ¹¹Sukri, H. (2024, March 1.). Why overseas swifties are willing to spend thousands to catch Taylor Swift in Singapore. CNA Lifestyle. Retrieved from https://cnalifestyle.channelnewsasia.com/entertainment/overseas-fans-travelling-taylor-swift-385961. Additionally, Thai Prime Minister Srettha Thavisin revealed that Singapore paid Taylor Swift up to US$3 million per concert to ensure that the shows were held exclusively in Singapore. In response, Singapore’s Minister for Culture, Community, and Youth, Edwin Tong, clarified that the amount paid was “far lower” than the reported figure, estimating it to be between US$2 million and US$3 million for six performances.

To further analyze the strategies employed by Singapore, we can use the perspective of Singapore, which incorporates the concepts of desirability, feasibility, and viability. Concepts itself means how The government can attract tourists to inherent cultural values or exhibit cultural artifacts, as well as amusement opportunitiesFrom these concepts, we can get into the next stage to make a business plan to make planning permits. To understand about  three components of this, we have to dissect this.

The first concept is desirability. In 2023, Taylor Swift was recorded as having the highest earnings among global artists, indicating her significant appeal. The second concept is feasibility. Singapore has excellent intrinsic values, such as robust infrastructure, high purchasing power, and a well-organized government. The last concept is viability ¹²Go, J. (2024, March 15). Lessons from Taylor Swift’s “eras tour” deal with Singapore. INQUIRER.net. Retrieved from https://business.inquirer.net/450212/lessons-from-taylor-swifts-eras-tour-deal-with-singapore. Singapore has strategic investments, providing convenience for artists who wish to hold concerts. This is evidenced by Singapore’s Minister for Culture, Community, and Youth, Edwin Tong, personally flying out to offer and negotiate deals, assuring organizers that there would be no obstacles ¹³Magramo, K. (2024, March 6). Eras Tour: Singapore defends Taylor Swift’s exclusive Southeast Asia stop after neighbors cry foul. CNN. Retrieved from https://edition.cnn.com/2024/03/05/asia/singapore-taylor-swift-southeast-asia-intl-hnk/index.html. This approach offers new insights that Singapore can understand complex situations, grasp market trends, and identify opportunities and threats within the industry, ultimately leading to opportunities for Singapore.

The concert business can also be analyzed through the multiplier effect mechanism. Revindo et al. (2024) estimate that Taylor Swift’s concert in Singapore has the potential to generate new economic activity, with an output equivalent to Rp6.4 trillion, contributing Rp3.9 trillion to GDP, and increasing household income for workers by Rp2.3 trillion ¹⁴Revindo, M. D., Siregar, C. H., Yuliana, T., & Kurniawan, Y. R. (2024, March). Dampak ekonomi penyelenggaraan pertunjukan musik: Konser Taylor Swift dan Coldplay di Indonesia dan Singapura. Lembaga Penyelidikan Ekonomi dan Masyarakat, Fakultas Ekonomi dan Bisnis, Universitas Indonesia. Retrieved from https://www.lpem.org/wp-content/uploads/2024/03/Special_Report_Bisnis_Pertunjukan_Case_CP_dan_TS-V9.pdf. These concerts are not just performances, but significant economic events that drive multiple sectors of the economy, especially for international bands that attract foreign tourists. Unfortunately, this economic mindset—viewing the music sector as an economic driver and a catalyst for creating economic multipliers—is still lacking in Indonesia.

Should we have Swiftonomics here?

Music concerts, especially on a grand scale, are not just cultural events—they are also significant economic drivers. The concept of “Swiftonomics,” coined after Taylor Swift’s massive economic impact, particularly from her Eras Tour, is a clear example of how music performances can create ripple effects across various sectors of an economy. The question now is: could Indonesia benefit from such an economic phenomenon?

Recent findings from Taylor Swift’s concert in Singapore offers valuable insight into the potential economic impact of hosting international music stars. Singapore, known for its organized and efficient infrastructure, capitalized on the six-day Eras Tour concert, which attracted 300,000 attendees, of whom 40% were international visitors. The economic impact can be analyzed across various sectors, with the total stimulus value adding up to significant numbers.

Ticket sales alone generated SGD 122 million. This staggering figure comes from the fact that the average ticket price was SGD 406.7, including booking fees. Over six days, the concert venue, Singapore National Stadium, saw a capacity of 50,000 attendees daily. This high demand for tickets and the value placed on them immediately boosted the Arts and Entertainment sector, which is the backbone of any concert event. Beyond ticket sales, the concert also stimulated other sectors such as Retail Trade and Accommodation. Merchandise sales, from t-shirts to water bottles, contributed over SGD 14.6 million to the retail sector. Meanwhile, the presence of international visitors boosted the accommodation industry by an additional SGD 57.6 million, as foreign attendees spent an average of two nights in hotels near the concert venue. With international flights costing an average of SGD 770 per ticket, the Air Transport sector saw a massive injection of SGD 138.6 million. Additionally, transportation, food and beverages, and other local services benefited from the concert. For example, all attendees used public transport to reach the venue, generating SGD 3.6 million for the Land Transport sector. At the venue itself, 100% of attendees bought bottled water, while 80% purchased food, further contributing to the food and beverage industry.

The impact of Swiftonomics in Singapore can be measured across three key dimensions: output, GDP, and household income. In terms of total output, the Air Transport sector led with an impact of SGD 153 million, followed closely by Arts and Entertainment (SGD 124 million) and Accommodation (SGD 59 million). Other sectors such as Food and Beverages, Retail Trade, and Real Estate also saw significant benefits.

When we examine the GDP impact, Arts and Entertainment again takes the top spot, contributing SGD 60 million to Singapore’s GDP. This sector, along with Air Transport (SGD 41 million) and Accommodation (SGD 34 million), highlights how concerts can be a powerful economic stimulus for local economies. Even industries that are not directly related to entertainment, such as Real Estate and Architectural and Engineering Services, saw positive impacts on GDP, showcasing the interconnected nature of economic activity.

In terms of household income, which measures how much workers directly benefited from the concert, the Arts and Entertainment sector generated SGD 45 million in additional income, followed by Air Transport (SGD 23 million) and Accommodation (SGD 15 million). This increase in household income demonstrates how concerts can directly improve the livelihoods of individuals working across these sectors.

Looking at the impressive economic outcomes from Taylor Swift’s concert in Singapore, one could ask whether Indonesia could replicate such success. The answer is a tentative yes, but with caveats. While Indonesia has the capacity to host large-scale events, certain challenges remain. Issues like ticket scalping, fraud, and the difficulty of obtaining permits are longstanding problems in the Indonesian concert scene. Additionally, many sectors in Indonesia may not yet be as organized or as equipped to handle large-scale international events as Singapore is. With the right regulatory frameworks, improved infrastructure, and collaboration between public and private sectors, Indonesia could harness the economic power of major concerts to benefit its broader economy. Music events, when properly managed, could not only bring in significant revenue but also drive growth in retail, tourism, transportation, and other industries. If Indonesia can address its current challenges and create a conducive environment for large-scale international events, Swiftonomics might just become a reality here as well.