Taylor Swift will probably profit a billion dollars from her tour I'd guess, all told.

The money for the artist is in touring and licensing in media / commercials / movies. Album sales are for enriching record labels.

My impression is that modern record labels are only relevant because they control payola for radio, and handshake relations with aging executives in other media companies, and probably have lots of inertia from rights and exploitative contracts.

But I've been waiting for the label implosion for the last two decades.