Is Taylor Swift exclusively for teenagers? That’s undoubtedly a myth, as the Eras Tour was the first to shatter $1 billion in ticket sales. The collaboration between the British hitmaker and the third-largest bank in Singapore even catapulted the United Overseas Bank Ltd.’s credit card fees to a historic high. Her musical talent has proven to be a significant economic force, with Swifties clamoring for UOB cards to secure pre-sale concert tickets. United Overseas Bank Ltd. experienced the true impact of star power as their credit card business surged by 89% compared to the previous year, reaching a record-breaking $76 million in the quarter, and reporting increased profits.
Thanks to her concert promoter in Singapore, AEG Presents Asia announced that only UOB credit and debit cardholders would have access to pre-sale tickets for her 2024 show. The bank anticipates a double-digit increase in fee income for the next year. Chief Executive Officer Wee Ee Cheong expressed, “If you have a UOB credit card, it’s a small advantage,” referring to the access to Swift’s concerts through pre-sale tickets. He added, “There’s more to come. Look at Ed Sheeran — it’s the same thing.”
UOB, having discovered a musical formula for success, is now partnering with Grammy Award-winning singer Ed Sheeran to offer similar deals to cardholders for his concerts in Southeast Asia next year. Jacquelyn Tan, head of group personal financial services at UOB, stated, “We do expect a corresponding surge in UOB card applications as our credit and debit card holders in Singapore, Malaysia, Thailand, Indonesia, and Vietnam will not only have privileged access to the pre-sale window but also reserved ticket allotments during the general sales.”
Singapore was the sole Southeast Asian destination to host superstar Taylor Swift-
The excitement among fans was palpable, transforming Singapore into the entertainment capital of Southeast Asia. The Eras Tour at the Singapore National Stadium shattered records, surpassing Ticketmaster’s record for the most tickets sold by a single artist in a day. An astounding $2.4 million worth of tickets were sold in a single day, with a similar phenomenon witnessed in Singapore, where Taylor performed for six consecutive nights before heading to Australia. The exclusive pre-sale event took place on July 5, 2023, for UOB cardholders, while the general sale commenced on July 7, 2023.