Taylor Swift, Beyoncé, and the "Barbenheimer" phenomenon have given a sizable boost to consumer spending this year.
Collectively, they may add an impressive $8.5 billion to the US economy in the third quarter, per Bloomberg.
High-profile concert tours by Taylor Swift and Beyoncé, along with the twin-movie phenomenon that's come to be known as 'Barbenheimer', are projected to add $8.5 billion to US output in the third quarter, according to Bloomberg Economics.
The Bloomberg economists warn, however, that the Hollywood boost for the economy may be short-lived.
AdvertisementAdvertisementNeither Beyonce nor Swift have any concerts planned in the US in the last quarter of the year, and the economists described the success of 'Barbenheimer' as a "once-in-a-blue moon" event.
Persons:
Taylor Swift, Barbie, Oppenheimer, Anna Wong, Eliza Winger, Swift, –
Organizations:
Bloomberg, Service, Bloomberg Economics, Revenue, Federal Reserve, Hollywood
Locations:
Wall, Silicon, Montenegro, Barbados