The federal and provincial governments collected more revenue from Taylor Swift’s Eras Tour than the City of Toronto did, municipal officials say.
According to a briefing note circulated among councillors in April, the music superstar’s six-show stop in Toronto in November 2024 brought in $39.7 million in government revenue.
Of that, Toronto only received $8 million despite spending nearly $4 million delivering its programs and services during the tour, the note – which was shared with Global News by the city on Monday – shows.
“The federal and provincial governments collected substantial revenues through income taxes, sales taxes, corporate taxes tied to increased economic activity; municipal revenues are comparatively lower,” the note, prepared by the city’s economic development and culture division, reads.
“This analysis underscores the challenges that cities face in fully capturing the financial benefits of hosting major events.”
Eras Tour visitors major contributors to Toronto’s economy
The note goes on to state Ottawa collected $17.4 million in revenue, while Ontario netted $14.4 million. Toronto’s portion represented about 20 per cent of total revenue, 15 per cent of which was from the municipal accommodation tax – a levy imposed on hotels and individuals offering short-term rentals.
Swift’s tour, which took place over two years across the globe, brought in more than $2 billion in ticket sales with 10 million attendees.
In Toronto, approximately 240,000 people attended the six shows; when accounting for people accompanying concert goers, that number rose to 500,000, the note stated.
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The show brought in $282 million in total economic impact to Toronto; of the $152 million in direct spending, nearly 93 per cent was estimated to come from out-of-town visitors.
Hotels and short-term rentals saw a major boost during a traditionally slow time of year for the sector. The note indicates occupancy at hotels across Toronto reached 80.5 per cent – 9.6 per cent higher than in November 2023 – and short-term rental demand increased by 163 per cent during that time frame. Demand for short-term rentals near the Rogers Centre shot up 245 per cent.
In terms of costs, the TTC reported that increasing service over those six days came with a $1.7-million price tag; Toronto police billed $2.6 million in costs – similar to its figures during major playoff games, the note stated.
“While these initiatives incurred costs, the initiatives delivered significant value by driving economic activity, promoting the city’s reputation on a global stage and by laying the groundwork for improved delivery of future events,” the note reads.
“The successful delivery of the Eras Tour required a coordinated citywide effort, bringing together multiple departments and agencies to ensure a safe, efficient and enjoyable experience for attendees. The collaborative approach is outlined in this section and not only underscores the City’s ability to mobilize resources, it also serves as a valuable template for planning future events like FIFA 2026.”
World Cup funding subject of spat between governments
In June, Toronto will host six games as part of a World Cup being hosted across Canada, the United States and Mexico.
Putting on those games is set to cost $380 million and has been the subject of a tense back and forth between the City of Toronto and the Ford government.
When the costs looked like they could be closer to $300 million, Ontario agreed to pay $97 million toward hosting the games and the federal government pitched in $104 million.
However, a recent report prepared for city council last spring suggests a substantial amount of the money Ontario promised to the city will be eaten up by existing commitments.
A total of $15 million will go toward public health, increased hospital staffing, paramedics and preparing for surging demand on hospitals as thousands of fans descend on the city.
Almost $40 million of the $97 million is already assigned and won’t go to the overall cost, the report said.
Mayor Olivia Chow has said the province should be covering those costs too — and has suggested she would consider scaling back her own commitments if they did not. Finance Minister Peter Bethlenfalvy has killed the idea that Ontario had more to give.
The stalemate leaves Toronto’s World Cup plans short tens of millions of dollars and repeats an impasse between the two governments that preceded the announcement of the $97 million.
The first World Cup game in Toronto will be held on June 12.
— with files from Isaac Callan
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