Coldplay’s recent concert in Ahmedabad was nothing short of a spectacle, attracting an astonishing 222,000 fans and generating a remarkable economic impact of ₹641 crore. This event shines a light on the burgeoning concert scene in India, signifying a shift in how live music is experienced in the country. A comprehensive report by EY-Parthenon and BookMyShow reveals the extensive financial ripple effects of Coldplay’s ‘Music Of The Spheres’ concert, showcasing the potential of large-scale events.
Economic Impact of Coldplay’s Concert
The financial influence of Coldplay’s performance extended across various sectors, with ₹392 crore injected into Ahmedabad’s local economy. This spending encompassed a wide range of areas, including:
- Accommodation
- Dining
- Local transportation
- Shopping
This influx of cash not only benefited the concert organizers but also nurtured local businesses, highlighting how major events can stimulate economic growth.
Growth of India’s Concert Culture
In 2024, India saw an impressive 70 to 80 concert days featuring audiences surpassing 10,000 attendees. This growth can be attributed to several factors, such as:
- Increased disposable incomes
- Adoption of digital technology
- Demand for premium entertainment experiences
These trends indicate a robust appetite for world-class concerts, positioning India as an emerging hub for international music acts.
Insights from Attendees
The economic analysis stemmed from a survey conducted among 2,821 attendees of the Ahmedabad concert. Results revealed that for every ₹100 spent on tickets, concertgoers contributed an additional ₹585 to the local service sectors. Notably:
- Nearly 47% of attendees traveled from outside Ahmedabad, averaging ₹12,401 spent on accommodation.
- About 23% reported hotel expenditures exceeding ₹15,000, reflecting soaring prices due to heightened demand.
- On average, concertgoers paid ₹18,912 for flights, with additional transportation costs averaging ₹10,466 for cabs and ₹8,071 for personal vehicles.
Coldplay’s Tour in India
Coldplay kicked off their India tour on January 18 in Mumbai, performing additional shows on January 19 and January 21. The band then graced the Narendra Modi Stadium in Ahmedabad with two back-to-back shows on January 25 and January 26. The lineup includes lead vocalist Chris Martin, guitarist Jonny Buckland, bassist Guy Berryman, drummer Will Champion, and manager Phil Harvey.
As the concert culture in India continues to flourish, events like Coldplay’s not only entertain but also create substantial economic opportunities, fostering a vibrant ecosystem for local artists and businesses alike.
