Singapore Pays Taylor Swift for Exclusive Concert Rights in Southeast Asia – Neighbouring Countries Shocked
Singapore has signed an exclusive deal with Taylor Swift for concerts in Southeast Asia, which brings in a lot of tourist revenue for the country and shocks neighbouring countries who are outraged by the injustice, CNN reports.
According to the agreement, the artist will only give concerts in Singapore and will not perform in other countries in the region. Under the terms of the agreement, the Singaporean government paid Taylor Swift up to $3 million for each show, and in return, the artist undertook not to give concerts in other countries in the region.
In this regard, several Southeast Asian countries have accused Singapore of entering into an exclusive agreement with American singer Taylor Swift and "unfriendly behaviour".
Joey Salceda, a member of the Philippine House of Representatives, called the deal "an act that good neighbours would not do".
Taylor Swift's performances have brought Singapore an unexpected profit as fans buy up airline tickets, rent accommodation and buy souvenirs in the country.
Prime Minister Lee Hsien Loong responded to the Filipino politician's criticism by saying that Singapore was not being unfriendly to its neighbours by striking a deal with the superstar.
"She was given certain incentives, we made a deal. It turned out to be a very good deal. I don't consider it unfriendly. If we hadn't reached an agreement, would she have come to other places in Southeast Asia? Maybe yes, maybe no?" he said.
Maybank estimates that if Taylor Swift performs six sold-out concerts in Singapore, with 70% of fans flying in from abroad, the country will receive about $370 million in revenue.
Between 1 and 9 March, when Taylor Swift's concerts were taking place in Singapore, the number of flights to Singapore increased by 186% and the number of accommodation bookings increased almost fivefold.
In total, Taylor Swift's concert tour can bring up to 10% of Singapore's GDP. However, fans have complained about the expensive airfare, accommodation, and food in Singapore and say that this concert trip is one of the most expensive they have ever had.
Nevertheless, the American singer is extremely popular. In recent months, she has set several world records. For example, The Eras Tour, a film about Taylor Swift's concert tour, recently became the highest-grossing concert film in history. The film grossed $261.6 million at the global box office, thus overtaking the previous record holder, Michael Jackson.
Taylor Swift's concert film broke the box office record even before its release. In early October, pre-sales of tickets for the film dedicated to The Eras Tour brought in $100 million, overtaking the previous leader, the Justin Bieber concert film.
At the beginning of the year, Taylor Swift became a record holder among solo artists. Her name was at the top of the Billboard 200 chart for the most weeks. The previous record holder was Elvis Presley, so she surpassed the king of rock and roll.
Taylor Swift's Eras Tour broke the record and became the highest-grossing tour in history. Its revenue exceeded $1 billion. The tour, which began in March 2023 and will end in December 2024, has earned $1.04 billion to date. In total, Taylor Swift will perform 151 concerts throughout the tour.
In early December, Time magazine announced Taylor Swift as its Person of the Year 2023.