Good morning! Trump picks Gail Slater to lead antitrust efforts and Kelly Loeffler to head the Small Business Administration, Montana’s restrictive transgender bathroom measure is blocked, and Taylor Swift is taking her final Eras Tour bow this weekend.
– Final bow. It’s the end of an Eras.
Taylor Swift’s Eras Tour wraps up this weekend in Vancouver, almost two years after the superstar launched the global phenomenon that propped up local economies, helped spur a federal antitrust lawsuit against Ticketmaster and parent company Live Nation, and propelled Swift’s ascension to billionaire status.
Exactly how much the tour—each show is a three-and-a-half hour journey through 10 of her studio albums, or musical eras—made in ticket sales is currently unknown, as Swift has not officially reported the figures. But music industry publication Pollstar reported it surpassed $1 billion in revenue by the end of 2023, making it then the highest-grossing tour of all time. Swift has played dozens more shows since then, ensuring the final tally is even more impressive—likely closer to $2 billion.
Outside of ticket sales, the so-called TSwift Lift continued apace in the cities the popstar passed through; from roadside merchants selling handmade merch to local small businesses to stadiums hosting the shows, anyone in Swift’s proximity seemed to benefit.
“The Swiftonomics are real,” says Belinda Oakley, CEO of Sodexo Live! North America, which has overseen food and beverage operations at 12 of the shows during the tour’s last leg and will also service Vancouver this weekend. Even compared to other top-selling tours, concession sales were up as much as 41% at some venues, with sales volume “akin to hosting 12 Super Bowls over the span of about eight weeks.” Swifties have been more than happy to shell out for tickets, hotels, merch—and chicken tenders. (As a two-time attendee, I can personally verify that.)
In the midst of it all, Swift also managed to produce a concert movie that bypassed traditional distribution agreements, a book that bypassed traditional publishers, and the year’s biggest studio album, by virtually every metric. She’s the top-selling artist in the world, and the most-streamed. It seems unlikely that many of us will witness another artist operating on every cylinder to the degree Swift has over the past two years.
With this monumental moment now drawing to a close, fans—and likely more than one economist—are wondering: What does a post-Eras era look like? Knowing Swift, it’s beyond our wildest dreams.
Alicia Adamczyk
alicia.adamczyk@fortune.com
The Most Powerful Women Daily newsletter is Fortune’s daily briefing for and about the women leading the business world. Today’s edition was curated by Nina Ajemian. Subscribe here.
ALSO IN THE HEADLINES
- Picking and choosing. Donald Trump picked Gail Slater as assistant attorney general for the Justice Department’s antitrust division. Slater has worked as a policy advisor for JD Vance and a tech policy advisor under Trump’s first administration. Trump also named former Georgia senator Kelly Loeffler head of the Small Business Administration. She was a big donor for Trump’s presidential campaign.
- Bathroom ban. Lawmakers in Montana from both parties blocked a measure banning transgender lawmakers from using the bathroom aligned with their gender identity at the state Capitol building. Rep. Zooey Zephyr, a transgender Democratic lawmaker, said, “I hope that it serves as a signal to other Republicans across the country that there are more important things that governments should be focusing on besides targeting transgender people.” Washington Post
- Further restrictions. The Taliban is barring Afghan women from attending nursing and midwifery schools, one of the few ways they were able to obtain higher education. This is another move to restrict women in Afghanistan from receiving an education past the sixth grade. NPR
- Tennis tour. WTA Ventures, a partnership between the Women’s Tennis Association and CVC Capital Partners, increased its revenue by 24% in its first year of operation. The venture was created to grow the tennis tour’s revenue and ROI. The Gist
MOVERS AND SHAKERS
HSBC named Lisa McGeough president and CEO for the U.S. She is currently HSBC's co-head of global banking coverage.
Franklin Biolabs, a contract research organization focused on genetic medicines, named Vatsala Naageshwaran CEO. She most recently served as VP, head of business development for U.S. CGT and lab services at Pharmaron.
Lyra Health, a workplace mental health benefits provider, appointed Jennifer Schulz as CEO and to its board of directors. Most recently, she was CEO of Experian North America.
The Knot Worldwide, a celebration and events-focused company, appointed Raina Moskowitz as CEO and to its board of directors. She was previously chief operating and marketing officer at Etsy.
Etsy named Kruti Patel Goyal president and chief growth officer; she is currently CEO of Depop, an Etsy subsidiary. CTO Rachana Kumar and CFO Rachel Glaser will be leaving Etsy.
Figure Technology Solutions, an efficiency and transparency technology platform for financial services, named Macrina Kgil CFO. Most recently, she led the global finance function at Flow.
Orgvue, a organizational design and planning platform for workforces, named Jessica Modrall chief product officer. She was previously the company’s chief customer officer.
NLine Energy, a clean energy company, named Katie Bickford chief commercial officer. She is a principal at Parinama.
Proof, an identity authorization network for digital transactions, appointed Leandra Fishman as chief revenue officer. Previously, she was CRO at Apollo.io.
Turing, a generative AI solutions provider, appointed Catherine Lacavera as chief legal officer. Most recently, she was chief legal officer at ShipBob.
ByHeart, an infant nutrition company appointed Denice Torres to its board of directors. She is the founder and CEO of The Ignited Company and was previously chief strategy and business transformation officer at Johnson & Johnson.
Exai Bio, a liquid biopsy company, appointed Karen Knudsen to its board of directors. She was the CEO of the American Cancer Society and the American Cancer Society Cancer Action Network.
ON MY RADAR
Tapped by Trudeau to steer foreign affairs, she’s now his possible successor New York Times
Bluesky CEO Jay Graber is reshaping social media, but advertising isn’t off the table TechCrunch
Mira Murati quit OpenAI. She’s as optimistic as ever about AGI Wired
PARTING WORDS
“I’m not trying to be the next Howard Stern…What he has built is incredible, and I think what I have built is also incredible.”
— Call Her Daddy host Alex Cooper on the evolution of her podcast
