Aug 8, 2023 - News

Swiftonomics is coming to Indianapolis

Photo Illustration of Taylor Swift with gemstone and letter bead overlays

Photo Illustration: Natalie Peeples/Axios. Photo: Octavio Jones, Terence Rushin/Getty Images

It's not just concerts. Indianapolis is getting a piece of the multibillion-dollar Taylor Swift economy.

Driving the news: Swift's 52-night, 20-city tour through the U.S. is breaking attendance records — and poised to be one of the highest-grossing tours of all time, Axios' Erica Pandey writes.

  • Now, the extended version of the Eras Tour is coming to Indianapolis next year.

Why it matters: Indianapolis drew a winning lottery ticket with Swift's surprising three-show commitment after missing out this year.

Between the lines: She attracted more than 55,000 people to Lucas Oil Stadium in 2018 and will perform there again Nov. 1-3, 2024, for a combined 165,000-plus attendance — most of whom should be unique ticket holders because of the difficulty of scoring tickets to one show, much less two or three.

What they're saying: Rory Billing, the CEO of an Indianapolis tech company called The Fan's Place, which helps businesses build loyalty, celebrated news of the Swift concerts.

  • Billing hopes for a secondary spillover from the "incredible weekend" he expects hotels, bars and restaurants to experience while Swift is in town.
  • "Local businesses are my customers, and one massive weekend in November — that would otherwise be pretty dead — can put enough cash in the pockets of some of those owners that they might take a chance on some tech they might otherwise have ignored," Billing told Axios.

The big picture: That's Swiftonomics — an economic turbocharge that's come to every city she's performed in, Axios' Emily Peck and Felix Salmon write.

  • Local consumer spending tied to this year's tour could go as high as $4.6 billion, per one estimate.

What's happening: Fans are traveling to different states to catch shows because they grabbed whatever tickets they could get, which is likely to happen here given Indiana's convenient proximity to many other big cities.

  • Swift tourists aren't just spending on hotel rooms and merch, they're dining out, hiring designers, and hitting local museums, per The Wall Street Journal. Businesses are creating special stuff just for Swifties to buy.

By the numbers: Of the 69 markets where Moody's Analytics tracks hotel performance, the ones that included a stop on the Eras Tour all posted an increase in revenue per available room from the same month last year.

  • The rise of hybrid work means that more folks are willing to travel out of town to see Swift and book a longer stay, per a recent note from Moody's.

The bottom line: Swift's three concerts will combine for one of the biggest events in Indianapolis history.

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