Superstar Musicians Are Superhero Franchises Now

Beyoncé driving inflation and Taylor Swift raising hotel revenues to pre-pandemic levels are just two signs of a top-heavy music business. Can the industry avoid Hollywood's villainous fate?

Something strange is happening in the music business. In May, Bloomberg suggested Beyoncé’s Renaissance tour singlehandedly spiked inflation numbers in Sweden. More recently, the Philadelphia Federal Reserve credited Taylor Swift’s Eras tour for raising hotel revenues to pre-pandemic levels.

Music’s superstars are getting bigger and bigger, to the point …