The recognition comes at a pinnacle moment in Swift's nearly two-decade-long career, marking her as the first individual from the arts acknowledged for outstanding achievement as an entertainer, according to the magazine's announcement.

The 33-year-old artist spent the year travelling the world on her "Eras Tour," showcasing music from her entire career, smashing records for ticket sales, and boosting the economies of every city she visited.

The "Eras Tour," which will continue in 2024 across Asia, Australia, Europe and the U.S., is on track to become the highest-grossing tour in world history, according to Billboard.