Netflix and Disney Lose Millions Following Taylor Swift Scandal

in Disney, Entertainment

Taylor Swift performing at The Eras Tour

Credit: Taylor Swift (@taylorswift13)

It seems that Taylor Swift, the recently appointed billionaire, has stood up to Disney, Netflix, and a plethora of other companies with a streaming service, taking millions, if not billions, of dollars away from them.

Taylor Swift wearing jewels
Credit: Universal Music Group

When it comes to Taylor Swift, the pop star has transcended the pop industry and is now a household and overall media name and global icon.

Her album “Midnights,” released in late 2022, was the year’s top-seller at 1.8 million copies, twice that of the second-biggest by Harry Styles. Her latest, “Speak Now (Taylor’s Version),” debuted in July at number 1, giving Swift her 12th in the top spot, surpassing Barbra Streisand for the most No. 1 albums by a woman artist.

Swift’s 131-date “Eras” world tour, currently packing stadiums across the U.S., is on track to be the highest-grossing concert tour of all time, at $1.4 billion, when it ends next year. Analysts estimate the tour will also have a total economic impact from tour-related spending of $5 billion on host cities. Even the Federal Reserve noted the effect her tour is having on regional economies.

Taylor Swift in "Look What You Made Me Do" Music Video
Credit: UMG

The artist has repeatedly broken Ticketmaster and has fans traveling the globe, following her from show to show, paying thousands for tickets, replicating her costumes, and crying uncontrollably at her performance.

As we know, “From the “Lover”-era “Miss Americana & the Heartbreak Prince” opened the show to the “Midnights” album cut “Karma” that closed the three-hour-plus musical marathon, Swift left barely any song possibilities unsung.

Swift has been known to shake off corporate greed. 

The original recordings of her first six albums were owned by a record label, which is often the case. However, they were eventually sold to a private equity firm, which Swift publicly opposed.

Taylor Swift in "Me!" music video
Credit: Universal Music Group

Now, Swift is re-recording and releasing the songs that had been sold, and she’s including songs on each album that were previously unreleased. Each re-recorded song and album title proudly includes a reminder that you are listening to “Taylor’s Version” as a major kick to Scoot Braun for his disloyalty to Taylor, and now failed career.

Most recently, Taylor released her version of 1989.

With 10 Grammy nominations, 1989 won Album of the Year and two other statues. The album also hit number one on Billboard, stayed in the top 10 for a whole year, and sold 1.3 million copies in its first week alone, a high for Swift to this day and a record over the preceding decade. Although the record was just released, listening parties worldwide have commenced.

Taylor Swift plays guitar on stage
Credit: Taylor Swift via Instagram

Each of these re-release albums cater perfectly to her Eras Tour theme, as she is going through everything she has created, as originated by her.

Considering how hard it was to get tickets to the actual concert, it’s no surprise that Taylor Swift’s Eras Tour movie is already box office gold. The concert film opened over the weekend to a massive $96 million, making it one of the biggest openings of the year so far, and on track to be one of 2023’s biggest movies.

The Eras Tour movie had the biggest opening of any concert movie ever, and made so much money that it actually vaulted straight into the ranks of more traditional box office hits. Taylor Swift’s movie had the sixth-largest opening of the year so far, putting it ahead of movies like The Little Mermaid and just behind giants such as the Super Mario movie, Barbie, and Guardians of the Galaxy Vol. 3.

What’s potentially even more impressive is that there’s really no telling where The Eras Tour is going to stop. The film is already up to $128 million worldwide, and with Swift’s impressive fan base, it could keep performing for quite a while.

Taylor Swift in "Anti-Hero" music video
Credit: Taylor Swift, YouTube

Whether its Taylor’s ability to bring together millions over music, or reignite a new love for NFL due to her now public relationship with Kansas City Chiefs Travis Kelce — Taylor is a name that no company wants bad blood with.

So, how did Taylor defeat streaming moguls like Netflix and Disney+?

When it comes to the streaming wars, there are many competitors. Netflix has been the leading platform for over a decade, with other companies like Hulu, Disney+, Amazon Prime, Paramount+, Max, Peacock, and more fighting to have their content streamed. One of the best ways that these companies have seen major growth, is through original content.

For example, we can look at Netflix.

Although Netflix has begun a password-sharing crackdown, as well as price increases — the platform continues to grow and currently dominates the streaming wars with 247.2 million subscribers.

Photo of Taylor Swift.
Credit: Taylor Swift

Some of the shows that have allowed the company to soar to unimagined success are all original to Netflix, and cannot be streamed anywhere else.

Wednesday is the most-watched series of all time with 1,718,800,000 hours watched. This has a completed viewing equivalent of 252,100,000 views. Previously, Stranger Things season 4 held the title. Other shows like Squid Game, Bridgerton, Black Mirror, Love is Blind, and more have also kept subscribers paying the monthly premiums to be able to follow the stories.

Disney+ also has lots of original content, with many Marvel and Star Wars shows like Loki and Ahsoka pulling in big numbers. During the pandemic, we saw Disney buy the rights to the Broadway sensation Hamilton. Although Disney did not create or financially back the Lin-Manuel Miranda production, they did purchase exclusive streaming rights to a show that was either much too expensive for some to afford and for those who could, nearly impossible to snag tickets for.

By placing it on Disney+, the show became instantly accessible and affordable — and Disney+ got a major boost.

So, it was not a shock to know that The Eras Tour movie was one that streaming platforms were clamoring to get their hands on.

Taylor Swift with red hair in the "All Too Well" short film
Credit: Taylor Swift Productions

When Variety compared The Eras Tour to Hamilton, they noted that one was cheaply produced, while the other was a cinematic masterpiece.

By comparison, The Eras Tour, directed by Sam Wrench, is a spectacle in and of itself. Filmed over multiple nights during Swift’s shows at Los Angeles’ So-Fi stadium, it used 40 camera operators and employed an armada of camera tech. “She set the bar very very high,” says National Association of Theatre Owners head Michael O’Leary of the production.

Film Updates (@FilmUpdates) has shared that, “Taylor Swift has reportedly withheld negotiations with streamers, for her ERAS TOUR concert movie, until the SAG strike gets resolved.

Swift earlier bypassed studios to release her film in theaters, after receiving a SAG-AFTRA interim agreement.”

It seems that The Eras Tour will eventually find a home to stream on; however, for now, Swift has stood up to all of the streaming service companies as she stands in solidarity with the AFTRA-SAG strike. This, in turn, is costing at least one streaming platform millions of dollars as The Eras Tour will bring high success to whichever platform is lucky enough to hold it.

Negotiations recently resumed for the ongoing strike, so there may be a chance that The Eras Tour will soon find a way into all of our homes.

Do you think Taylor made the right choice by waiting on the strike to end before streaming The Eras Tour?

 

 

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