Taylor Swift’s Big Endorsement Costs Her $125 Million In Brand Deals.
In a move that has left corporate sponsors shaking in their boardrooms and Swifties questioning their life choices, pop icon Taylor Swift has reportedly lost brand deals worth $125 million. The reason? Her latest, now-infamous political endorsement. You’d think after surviving Kanye, Scooter Braun, and the devastating breakup that fueled Red, Swift would be ready for anything. But apparently, even she wasn’t prepared for the fallout of playing political matchmaker between her platform and some very divided public opinions.
For years, Taylor Swift has been the golden child of brand endorsements. Want to sell perfume? Call Taylor. Looking to move some diet soda? Get Taylor’s face on the can. Need to move the needle on your lipstick sales? Taylor’s Instagram post is worth millions. But all of that came crashing down when she decided to endorse a political candidate in the midst of an already heated election cycle.
Her fateful endorsement came during a highly anticipated Instagram Live, which started off innocently enough. Swift chatted with fans about her favorite new songs and upcoming tour, but then, like a plot twist from one of her own music videos, she dropped a bombshell: she was endorsing Vice President Kamala Harris for president. “She’s my role model,” Swift said, “and perfect for our country.”
Cue the collective gasps of brand executives everywhere, followed by the sound of contracts being shredded in corporate offices worldwide.
At first, the backlash was slow to build. Swift’s endorsement attracted a mix of praise from her progressive fans and a healthy dose of confusion from others. But behind the scenes, her endorsement was causing panic among some of her biggest sponsors.
Luxury fashion house Gucci was one of the first to jump ship, canceling a multi-million-dollar deal for Swift to be the face of their next collection. “While we admire Taylor’s commitment to her beliefs, we feel that her recent political statement doesn’t align with the neutral stance of our brand,” said a Gucci spokesperson, who apparently forgot that fashion houses haven’t been neutral since the invention of pleather.
Other brands quickly followed suit. Diet Coke, which had a long-standing partnership with the singer, quietly severed ties. “We respect Taylor’s right to express her views,” the beverage giant said in a statement, “but Diet Coke is about refreshment, not political endorsements.”
Next up on the chopping block was a deal with a high-end beauty brand. Estée Lauder, who had recently collaborated with Swift on a new perfume line titled Reputation Reloaded, swiftly (pun intended) canceled the partnership. “Our customers come from all walks of life, and we strive to remain a brand that doesn’t alienate any of them,” said a representative from the brand, clearly worried that perfume buyers might not appreciate political undertones with their floral undertones.
