Beyonce’s Renaissance World Tour ‘could earn more than £1.6 billion’

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Evening Standard

BEYONCE’s upcoming Renaissance World Tour could earn the singer more than two billion dollars (£1.6 billion), according to Forbes.

The US business magazine said the estimates were based on “optimistic” assumptions on the number of fans buying tickets, and a high average ticket price of 700 dollars (£555).

It added that the estimates also assumed that artists would take home a “considerable share” of merchandise proceeds and pay tour expenses of 20% of revenues.

The tour is due to kick off in Stockholm on May 10, and will be Beyonce’s first world tour in seven years.

The singer is set to play several UK dates, including London’s Tottenham Hotspur stadium, Cardiff’s Principality Stadium, Murrayfield in Edinburgh, and Sunderland’s Stadium of Light.

According to Forbes, the Renaissance tour could gross between up to 2.4 billion dollars (£1.9 billion) from tickets alone by the time it ends in September.

This would put it above the magazine’s most optimistic estimate for Taylor Swift’s ongoing The Eras Tour, which is 1.9 billion dollars (£1.5 billion).

Forbes suggested that the more optimistic assumptions about tour earnings could be due to fans’ heightened desire to attend in-person concerts following the coronavirus pandemic.

In February the scramble for tickets to UK shows caused online difficulties for vendors.

Named after her most recent album, the Renaissance World Tour will help students at colleges and universities in 10 cities through scholarship funds.

Beyonce’s last global tour was named after her hit song Formation, an R&B track with trap and bounce influences which celebrated her success and culture.

Renaissance, her seventh studio album which was released last year, went in another musical direction by incorporating house music and dancefloor-focused Afrobeats.

In February, Beyonce became the most decorated Grammy artist of all time after collecting her 32nd trophy at the 65th annual ceremony.