Claim:
Taylor Swift lost $125 million in brand deals after her "big endorsement."
Rating:
Labeled Satire ( About this rating? )
A rumor that pop superstar Taylor Swift lost $125 million in "brand deals" following her "big endorsement" circulated online in mid-September 2024.
According to Esspots.com : "Within days of the announcement, some of the biggest brands in the world were backing away from their multi-million-dollar contracts with the star, hoping to avoid the PR mess Swift had inadvertently created."
The rumor was also shared on social media via the SpaceX Fanclub Facebook page with photos of swift and U.S. Vice President Kamala Harris, where users chimed in on both sides of the issue. One Swift supporter commented, "Worthwhile tax deduction. You go, Taylor! Thank you!"
Another user shared the post and said ( archived ): "Good, she needs to be exposed for the demonic influence she is."
(SpaceX Fanclub Facebook Page)
The rumor spread to X, with one user posting ( archived ): "Good, you ungrateful singer and movie stars."
While some readers seemed to accept the rumor as fact, there was no evidence of Swift's endorsement resulting in financial loss for the pop star. Likewise, no credible news outlets reported on the rumor.
Rather, the rumor about Swift's brand deals originated with a satirical article posted by Esspots — a website that describes its output as being humorous or satirical in nature, and part of the same network as the SpaceX Fanclub Facebook page.
The Esspots "About Us" page states: "Our team of writers and editors is dedicated to bringing you the latest and greatest in fake news and absurdity, all with a healthy dose of humor and satire." The article was labeled as satire on the Esspots page, as was the image in the SpaceX Fanclub Facebook post.
The fictional story spread as a reaction to Swift's endorsement of Harris that the singer posted to Instagram on Sept. 10, 2024.
However, the Esspots article itself made no mention of Swift's political statement. Instead, it used an image of Harris alongside Swift to imply the "endorsement" referenced in the headline was referring to the politician, when in fact the article proclaimed Swift's endorsement was for "a vegan cryptocurrency."
While it was reported that Swift had talks with cryptocurrency exchange FTX before the company collapsed in 2022, a deal was never reached and Swift has not been associated with any cryptocurrency.
Esspots also referenced Swift's brand partnerships with CoverGirl, announced in 2010, and Coca-Cola, announced in 2013. There was no evidence that either of these partnerships had been impacted by Swift's endorsement of Harris, or, indeed, any cryptocurrency.
Snopes has addressed other claims surrounding Swift in the past, including the assertion that former President Donald Trump said Swift would "pay a price" for her endorsement of his opponent, and a rumor that Swift's boyfriend, Kansas City Chiefs player Travis Kelce, told Elon Musk on X that he'd "twist him into a pretzel."
For background, here is why we alert readers to rumors created by sources that call their output humorous or satirical.
Sources:
Asgari, Nikou, et al. "FTX Held Talks with Taylor Swift over $100mn Sponsorship Deal."
Financial Times , 7 Dec. 2022, https://www.ft.com/content/2b0601e2-d371-404d-8531-227f11d4a83f. COVERGIRL.
Taylor Swift Announced as the Face of New COVERGIRL Cosmetic Line, NatureLuxe . https://www.prnewswire.com/news-releases/taylor-swift-announced-as-the-face-of-new-covergirl-cosmetic-line-natureluxe-111521939.html. Accessed 13 Sept. 2024. "Taylor Swift Partners With Diet Coke To Celebrate All Things Extraordinary."
The Coca-Cola Company , 28 Jan. 2013, https://investors.coca-colacompany.com/news-events/press-releases/detail/116/taylor-swift-partners-with-diet-coke-to-celebrate-all.
Local News
