Taylor Swift: Explainer: What is ‘funflation’ and how Taylor Swift is boosting US economy
According to a Bank of America report, the recent boom in entertainment and live experiences spending, driven by Taylor Swift, Beyoncé, and “Barbenheimer”, may not be a fleeting phenomenon, but a lasting trend.The Bank of America report titled “Funflation in Full Force”, describes 'funflation' as a phenomenon of people spending more on live entertainment due to pent-up demand and increased savings after the Covid-19 pandemic.The Taylor Swift andBeyonce tours are some examples of 'funflation' economy. According to the report, funflation may lead to a lasting shift in consumer behavior that will benefit the entertainment industry in the long run.The live entertainment sector is shining brighter than ever in the media and entertainment landscape, Bank of America analyst Jessica Reif Ehrlich ...