How Taylor Swift’s Eras Tour Impacted the US Economy — Inside Edition, 2023, 1:48 — https://www.youtube.com/watch?v=NRB0TOgYqXk

Did Taylor Swift, Beyonce, and the Barbie movie save the U.S. from an economic recession in the summer of 2023? This short video suggests so because of the massive success of the tours and movie. Critical theorists probably wouldn’t be surprised, though. Critical theory has long postulated that the culture industry as it manifests in mass media has become the bedrock of our modern society’s economy. They argue that our cultural products (movies, music, shows, art, lifestyle, etc.) have become a more powerful economic force than our industrial or intellectual sectors. Indeed, even people in other countries seem to value engaging with our culture, as evidenced by how much money is spent consuming American entertainment across the globe. However, critical theories also say the culture industry results in fleeting and inauthentic happiness.

What other American cultural products are in demand across the globe? What might be some benefits and risks of relying on our culture industry for economic growth and stability?

From the video’s description: Taylor Swift's sold-out Eras tour added $4.6 billion to the local economies of the cities she performed in. Her impact on the economy is being called "Swiftonomics." Many of her fans traveled long distances to spend lots of money to make her concert a night to remember. The so-called “Taylor Swift tourists” spend an average of $1,300 per person. Those purchases include tickets, hotels, car rentals, restaurants, merchandise and hair stylists.