Impact of Coldplay concerts on the economy and environment

Italian stage of “Music of the Spheres World Tour” Did Distasteful gameThe English Band That Filled Maradona Stadium Naples Is this san siro To Milan With 6 stages (2 in Naples and 4 in Milan) between 21 and 29 June 2023. What was the impact of the tour for the band, the cities visited and the impact on the environment? Let’s make things clear.

money for coldplay

led english band steve martinearned so far 1 billion dollars Thanks to a live performance of the “Music of the Spheres Tour” starting in March 2022. An advantage compared to other greats in the history of music, Rolling stone Garlic u 2passing through Paul mccartney, Elton John, Bon Jovi. According to “Forbes”, he was the highest paid tour in history Elton John (853 million), Ed Sheeran (776 million) e u 2 (736 million).

The tour would visit 20 countries for a total of 130 dates and 12 million tickets sold. Tickets were already sold out and the band was supposed to earn over 400 million. The increase in concert revenue is due to the increasing importance of live concerts for artists in terms of revenue, as well as the fact that music streaming

Gives artists less revenue than traditional CDs and vinyl records.

This has helped to drive up concert prices. just think about that recent case Beyoncé In Sweden, the direct and indirect costs of which led to a brief spike in inflation. But what effect did the Coldplay concert have on the economy and the environment?

impact on the economy

The report “Consequences of cultural and entertainment events”, compiled by Egis (Italian General Association of Entertainment), Siset (International Center for Studies on Tourism Economy) and Concomercio, attribute three effects to major events such as the Coldplay concert:

1. New Services for the Community: Each event attracts investment and favors completion of infrastructure and services for the community;
2. multiplier effect: Every Euro invested in the renovation and creation of new functions mobilizes approximately 1.4 Euro of resources into the economic system, which is capable of contributing to an increase in GDP;
3. dispersion effect: The resources activated by hard investment are spread over a much larger area (extra-regional and even national), whereas the impact derived from visitor spending alone remains more localized.

Then there are the expenses of the participants in the event, which not only has a positive impact on the main sectors of the tourism chain (hotels and restaurants), but also on companies in other economic sectors located in the destination, the neighboring region and possibly – Is. In the case of major events – over an even wider area. Visitor spending is usually for the purchase of specific products, travel by public transportation, as well as other recreational activities related to the event.

Assuming this distribution of spending by each participant, we can calculate the impact of the Coldplay concert for Italy. The cost of tickets in our country ranged between 57.50 euros for the sixth numbered sector and 172.50 euros for the average price. 115 euro, Considering this ticket price, the cost for each participant was 1,437.5 Euro, Given that the capacity of the San Siro stadium 75,817 seats And that Maradona was the total participant in 6 stages, out of 54,726 370,538, Each of them cost around 1,437.5 Euros, so we can estimate the overall economic impact of Coldplay’s tour on Italy 532,648,375 Euro,

environmental impact

The Coldplay concert stood out for being eco-friendly, according to a study by the Massachusetts Institute of Technology (MIT), which the band also shared. According to the research, this tour has resulted in 47% less carbon dioxide emissions so far as compared to the previous stadium tour in 2016-17. 66% of all tour waste was diverted from landfill. 5 million trees were planted (one for each concert attendee). Planting a sapling will last the tree to maturity. Energy (audio, lights, lasers, etc.) for the show’s production is supplied by an electric battery system that uses 100% renewable energy. 86% of the reusable and plant-based LED wristbands used by spectators were returned during the show.

Each show generated an average of 15 kWh of energy, generated by the theatre’s solar installations, kinetic dance floor and electric bicycles, to power the C-Stage shows each night and provide charging stations for phones, laptops and utensils for the crew. was enough

Additionally, 3,770 meals + 73 kgs of toiletries were donated to the homeless and shelterless by the tour caterer.

The band also arranged with Ocean Cleanup to install a solar-powered river interceptor, set to be installed in Malaysia in March 2021, to remove 158 tonnes of trash and 13 tonnes of ocean-bound plastic from the Klang River. The band has earned the praise of Professor John E. Fernandez of the MIT Environmental Solutions Initiative, who said:

“We fully support this effort as extremely important, scientifically rigorous and of the highest quality. The band deserves critical acclaim for pioneering the work and serving as a pioneer for the global music industry.”