This Saturday, Tenerife will host a concert by one of the biggest stars in the music industry, Ed Sheeran. While concerts like this one are certainly lucrative, the real money for Sheeran comes from his mastery of the virtual world. By mid-2024, it’s clear that the music industry has transformed significantly. Gone are the days when artists needed to sell millions of albums or tour relentlessly to rake in enormous profits. Just ask Ed Sheeran.
Sheeran, a key highlight of this summer's live music calendar in the Canary Islands, is set to perform his only large-scale show in Spain in Santa Cruz on Saturday, promoted by newEvent. The anticipation has been palpable, especially with the massive crane parked outside the stadium—signalling that building the stage and the countdown has begun.
Despite his unassuming appearance, more reminiscent of a Harry Potter character than a global music superstar, Sheeran’s every breath seems to boost his bank balance. With an estimated personal fortune of over £280 million, Sheeran’s financial success is nothing short of miraculous.
With the backing of Sir Elton John, Sheeran’s rise to fame and fortune has been meteoric since he signed with Asylum Records and released "The A Team." His touring agency's annual revenue ranges between 90 and £100 million, a testament to his unparalleled earning power.
Sheeran’s fan base spans the globe and shows no sign of dwindling. Alongside Taylor Swift and Coldplay, Ed Sheeran is in an elite league of global music phenomena.
On Spotify, he boasts over ten million downloads for hits like "Shape of You" and "Thinking Out Loud," placing him in the platform’s top five earners with 36 million dollars. However, he trails behind artists like Drake (52.5 million dollars), J Balvin (37.8), Post Malone (37.4), and the controversial Bad Bunny.
Sheeran has also navigated the tricky waters of copyright lawsuits. Notably, he emerged victorious in a legal battle over "Thinking Out Loud," which was accused of plagiarising Marvin Gaye's "Let’s Get It On."
However, he wasn’t always so fortunate. In April 2017, Sheeran was ordered to pay a settlement for "Photograph," which was found to contain 30 identical chords to a song by Martin Harrington and Thomas Leonard. Despite these legal hiccups, Sheeran’s status as a global music icon remains untarnished.
Adding to his cultural footprint, he also has appeared in a cameo role in the third Bridget Jones film and the seventh season of Game of Thrones. His influence even extends to an appearance in The Simpsons, an accolade few achieve.
This weekend, Sheeran returns to Tenerife, a place he knows well, as he used to come on holiday here as a child, and has even dedicated a song to, as he prepares for his highly anticipated concert. Tenerife, brace yourselves for an unforgettable night with Ed Sheeran!
