Taylor Swift’s Canceled Vienna Shows Could Cost Insurance Companies Millions In Claims
Despite their disappointment, fans stayed strong.
Brian Friedman | Shutterstock Taylor Swift is a true force in the entertainment industry. As the pop queen took her Eras Tour to Europe, Swifties in Austria had to put their dreams on hold after three concerts in Vienna were canceled due to the threat of a terrorist attack.
Fans weren’t the only group affected by the cancellations.
Taylor Swift’s canceled Eras Tour shows in Vienna could cost insurance companies millions of dollars.
According to Reuters, insurers could take a major hit by covering losses for Swift’s shows, which were set for August 9, 10, and 11, 2024. The concert organizer, Barracuda Music, stated that all tickets would be refunded within 10 days.
Swift is a popular artist among insurance companies because she rarely cancels her concerts, a source told Reuters. Typical coverage for event cancellation insurance includes delays, moving the event’s location, rent for the venue, and the artist’s pay and ticketing.
While the exact amount of insurance coverage for her shows isn’t public knowledge, Marcos Alvarez, the managing director for global financial institutions ratings at Morningstar DBRS, a credit ratings agency, estimated the losses from the cancellations could total tens of millions of dollars.
Organizers of large events often purchase event cancellation insurance. While militant attacks are usually excluded from these policies, policyholders often buy extra coverage against them.
As Tom Thornhill, a managing director at the broker Tysers shared, "The standalone terrorism cancellation insurance policy would have been triggered by the terrorism act or threat clause within the policy, as there has been a known potential terrorism event.”
Swifties are projected to put about $953 million into the UK economy just by attending her concerts, meaning the cancelations in Vienna could seriously hurt the city's profits.
Tinseltown | Shutterstock
195,000 Swifties were estimated to attend the Vienna shows at Ernst Happel Stadium.
The last-minute cancellation saved lives, but fans’ sadness was palpable.
One fan shared a POV TikTok of herself in tears, captioning the post, “The concert you’ve been excited to go to for over a year, crafted and saved an outfit for, literally haven’t stopped thinking about for months, just got canceled.”
Despite their disappointment, fans acknowledged that canceling the shows was the right decision in order to keep people safe.
Another fan showed herself crying as she crafted, saying, “All Taylor Swift concerts in Vienna are canceled while I was making the last friendship bracelets.”
She shared that she understood why, yet noted, “I just want to be devastated for the next 5 to 1000 business days.”
“My heart breaks for all Swifties in Vienna,” she concluded.
Swifties made the best-case scenario out of their heartbreak, gathering in the streets to express their emotions.
Thousands of fans stood outside to put on an impromptu show of their own, wearing their Eras tour outfits, singing Swift’s songs, and trading friendship bracelets, just as they would have done at the concert.
One couple showed just how devoted they were to Swift and to each other as they got engaged while the crowd sang “Love Song.”
Swifties in Vienna gave themselves the entire Eras Tour experience. They harnessed the power of coming together and celebrating even in the face of danger and grief.
The crowd showed that for Swift fans, love is always stronger than fear and hate.
Alexandra Blogier is a writer on YourTango's news and entertainment team. She covers social issues, pop culture analysis and all things to do with the entertainment industry.