Swifty Economics
Vocabulary
tailor | swift (2) | cocktail (2) |
local | bring in | bring/brought/brought |
final | sold out | sell/sold/sold |
boom | stadium | spend/spent/spent |
fan (2) | estimate | not enough |
shell | quarterly | probably |
rate | shell out | around (2) |
price | heart (2) | run/ran/run (3) |
tax (2) | benefits | priceless |
reap | next to | county (2) |
own | row (3) | indescribable |
bowl | show (3) | Super Bowl |
karma | in a row | too much |
result | last (3) | increase grand (2) |
result | recover | country (2) |
boost | continue | pandemic |
sales | massive | round table (2) |
item | vacation | in addition to |
stay | drink (2) | make/made/made |
full | trip (2) | make out of this |
list | book (2) | drink/drank/drunk |
as well | windfall | demand (3) |
Video
Transcript
News Anchor, Female: Taylor Swift gives some great karma to our local economy; her concerts bring in millions for the city of Los Angeles. Her final sold-out concert at So-Fi Stadium is just about an hour away now.
Newscaster, Male: And what an economic boom. Thousands of Swifties spent hundreds of millions of dollars.
Journalist: “How much did you spend on this trip?”
Swiftie Fan, 1: “Too much!”
Swiftie Fan, 2: “Probably like two grands, after all that.”
Swiftie Fan, 3: “It was only like $500, so this trip wasn’t that bad.”
Swiftie Fan, 4: “Probably around $2000.”
Swifties shelled out for the pop star’s six-day, sold-out concert run at SoFi Stadium in Inglewood.
Swiftie Fan, 2: “I got a lot of love in my heart for her; she’s priceless.”
Maybe priceless to fans, but the economy is reaping the benefits.
Drew Gates, the owner Cork and Batter next to the stadium says Taylor Swift has been a huge boost for his restaurant that just opened last September.
Drew Gates, Restaurant Owner: “Indescribable. It’s like having six Super Bowls here, six days in a row.”
A report by the California Center for Jobs and the Economy shows the Eras Tour is estimated to result in a $320 million increase to L.A. County’s GDP, add 3,300 jobs, and a $160 million increase for Inglewood businesses.
Ron Lapsley, CA Business Roundtable President: “Economic activity is badly needed in Los Angeles as they try to continue to recover from the pandemic.”
Ron Lapsley, president of the California Business Roundtable which runs the center says the tour is also bringing in millions of dollars in tax revenue for the city and the state.
Ron Lapsley, CA Business Roundtable President: They’re staying in Los Angeles, they’re probably going to Universal Studios, certainly spending money in restaurants, in addition to hotel rooms. They’re certainly making a vacation out of this as well.”
The report says one survey found the average concertgoer to Taylor Swift’s tour spent just over $1,300, which of course includes travel, hotel stays, and food and drink.
Drew Gates, Restaurant Owner: “We have a full cocktail list, all with the names of songs, October this that. Thirteen items.”
This hotel near the stadium has been booked for months.
Drew Gates, Restaurant Owner: “The rates for the hotels have gone up so much because there’s just so much demand.”
The city of Inglewood expects to know the full economic impact in October when the quarterly sales tax numbers post after what’s been a whirlwind and a massive windfall for these business owners.
Drew Gates, Restaurant Owner: “And we’ve made it to the last day today, so we’re going to make it.”
Questions
Food Stall. The main theme of this report was the songs that Taylor Swift sings at her concerts. True or false?
Cafe, Bar. Are Swiftie fans frugal and miserly during her concerts?
Fast Food Restaurant. Restaurant and hotel owners dislike Taylor Swift and her music. Is this right or wrong?
Restaurant. Has Taylor Swift’s concert been great for Los Angeles’ government?
Airbnb. Do Swiftie fans only attend her concerts?
Motel. The names of Drew Gate’s cocktails are Margarita, Mai Tai Pina Colada. Is this correct or incorrect?
Hotel. Can traveler book a hotel room the day before the Taylor Swift concert? Are the hotel room rates cheap?
Pop Concert. How does everyone feel? How to concert goers and business people feel?
Sporting Event. I’m a fan of Taylor Swift. Yes or no? Is she popular in your town or among your friends, classmates and colleagues?
Theme Park, Amusement Park. Are there music concerts in your town or city? Who are some (famous) singers or bands that have come to your city?
Museum. Who are your favorite pop stars or singers?
Theater, Opera, Concert. Has Taylor Swift performed in your city? What would happen if Taylor Swift were to perform in your city? If Taylor Swift were to perform in my city . . . . .
Movie Theater, Cinema. What might happen in the future?
Bus, Train, Airplane. What could or should people do?