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Int'l Business Times
11 hours ago
- Entertainment
- Int'l Business Times
Oasis: From Clash To Cash
Fifteen years after their explosive split, British music legends Liam and Noel Gallagher are reuniting for an Oasis tour that promises not only Britpop nostalgia but also staggering revenues. While Liam has insisted that money is "way down the list" of reasons for the feuding brothers' reunion, British press reports have suggested that each sibling could pocket around GBP50 million ($67 million). Matt Grimes, a music industry expert at Birmingham City University, offered a slightly more conservative estimate of around GBP40 million per Gallagher for the 17 UK dates alone. Oasis, whose hits include "Wonderwall", "Don't Look Back in Anger" and "Champagne Supernova", kick off the reunion tour on July 4 in Cardiff before playing several dates in their home city of Manchester the following week. Almost 1.4 million tickets have been sold for the UK shows, generating an estimated GBP240 million, according to Barclays bank. And that's just the beginning. Merchandise sales, from T-shirts and puzzles to baby clothes and tableware, plus six pop-up shops across the UK and Ireland could push total revenue to around GBP400 million, Grimes said. The 24 concerts outside the UK, including in Buenos Aires, Chicago, Sydney, Tokyo and Toronto, will drive revenues even higher. Still, the money from the return of Oasis is dwarfed by Taylor Swift's record-breaking Eras Tour, which grossed $2.2 billion from ticket sales alone across 149 shows worldwide. It was "a much bigger logistical event or sets of events than Oasis are proposing", Grimes said. There was a chaotic scramble for prized Oasis tickets when they went on sale in August last year. But fans were left outraged by exorbitant ticket costs that saw sudden price hikes -- known as dynamic pricing -- based on overwhelming demand, in some cases from GBP150 to GBP350. Ticketmaster, one of the official sales websites, said the pricing decision was made by the "tour organiser". Oasis pointed the finger at their promoter. The Gallagher brothers' promotional plan, however, was minimal: two posts on social media -- one to tease, the other to confirm. "The fact that they announced a reunion after many, many years of 'will they, won't they' is enough to make the press interested," Chris Anderton, professor of cultural economics at the University of Southampton, told AFP. For Oasis there's no new album to promote, just classics to revive. "In the 1970s, even maybe the 1980s, you went on tour to sell albums," Anderton said. "Now you go on tour to make money and the album is something on the side -- if you make one at all." "Definitely Maybe", released 30 years ago, climbed back to the top of UK sales charts on the back of the reunion tour announcement. Each Oasis concertgoer will spend an average of GBP766 on tickets and outgoings such as transport and accommodation, according to Barclays. That is set to inject GBP1 billion into the British economy. Two key shifts help explain the rise of mega-tours, said Cecile Rap-Veber, managing director at the French artists' rights group Sacem. On one hand, streaming "doesn't bring in as much money as the CD era", prompting artists to look at how to make money elsewhere, she said. On the other, "the public's appetite for live shows" surged after the lockdown years of the Covid-19 pandemic. Those factors make fans more willing to spend big. Grimes sums up the choice: "Do I go to... Spain or maybe the south of France for a week's holiday that's going to cost me GBP600? Or do I go and see my favourite band?" A mural by the artist known as Snow Graffiti of Liam and Noel Gallagher outside the Whitefield pub in Manchester, where they will play in July AFP
Yahoo
07-03-2025
- Automotive
- Yahoo
UK new car market dipped in February
The UK new car market fell slightly in February, down 1.0% to 84,054 units, according to the latest figures from the Society of Motor Manufacturers and Traders (SMMT). In what is usually the smallest month of the year (accounting for only around 4% of annual volumes), February was the fifth consecutive month of decline, with a 4.0% reduction in fleet registrations – which have driven previous market growth. Private registrations rose by 4.6% to slightly increase overall market share to 35.6%, while the much smaller business sector rose by 3.3%. Electrified vehicle uptake continued to grow, with plug-in hybrid vehicles (PHEVs) rising 19.3% and hybrid electric vehicles (HEVs) up 7.9%. Battery electric vehicle (BEV) registrations were up by 41.7% to 21,244 units, securing a 25.3% market share compared with 17.7% a year ago. This dramatic increase compared with the rest of the market was unsurprising considering the forthcoming tax changes in April, which will see many EV models subject to the vehicle excise duty expensive car supplement (ECS) for the first time. This maintains the positive trajectory but still falls short of the 28% target for 2025 and, given February comes ahead of the March numberplate change, it is always one of the smallest and most volatile months. Next month is likely to see a further surge in EV uptake, as buyers capitalise on the new '25 plate and take their last chance to avoid the punitive ECS which, from 1 April will add GBP2,125 over six years to the cost of BEVs with a list price above GBP40,000. The SMMT points out that relative to the rest of the market, BEVs are disproportionately affected by the ECS as higher production costs meaning the average BEV retails above the ECS threshold, a threshold which remains unchanged since its introduction in 2017. The introduction of this measure also risks disincentivising the used market as well as the new, impeding a faster, fairer transition. Manufacturers have already underwritten the transition to the tune of more than £4.5 billion in discounts over the last year alone – on top of the billions invested in developing and bringing the vehicles to market. The SMMT maintains that such industry support is unsustainable which is why the current ZEV Mandate 'must arrive at measures which afford greater market flexibilities, incentivise private purchases, and both encourage and facilitate a faster rollout of charging infrastructure'. Mike Hawes, SMMT Chief Executive, said: 'Although February's figures show a subdued overall market, the good news is that electric car uptake is increasing, albeit at huge cost to manufacturers in terms of market support. 'It is always dangerous, however, to draw conclusions from a single month, especially one as small and volatile as February. With the all-important March number plate change now upon us, and tax changes taking effect in April that will, perversely, dissuade EV purchases, we expect significant demand for these new products next month - but, long term, EV consumers need carrots, not ever more sticks.' "UK new car market dipped in February" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Khaleej Times
27-02-2025
- Business
- Khaleej Times
‘My first job in Dubai fetched twice the salary I had in the UK': Dubai-based expat
Simone Haynes has found what she calls 'freedom' with money. Just 42, she has been in the UAE since 2015, and has founded No Common Scents in Dubai while working full time. The daughter of a banker, from childhood she had a keen eye for a bargain and was driven to become an entrepreneur from a young age, even with some bumps and tough lessons along the way. If you had to write a letter to money, what would you say? Dear Money, I am sorry I didn't treat you more carefully growing up, but I was having too much fun sharing you and experiencing places only you could take me. Thank you for helping me escape south east London. I hope you know I am grateful and I'll treat you more wisely in the future. Please let me use you to rescue more animals though. And occasional shoes. How do you think your relationship with money was formed? I have always been fiercely independent and money was the key to freedom. If I could earn money, I could make more independent decisions. My parents love reminding me of the time someone came to the front door with a newspaper advert. He was there to purchase a doll's house. My parents were baffled, they had not placed any such advert. Turns out I had placed it. I was nine. Which lessons about money management did you learn from your mother? How important it was to budget. I remember Mum asked me to go to the corner shop for some milk and I spent the change on a beautifully wrapped box of chocolates for her. I thought she'd be pleased but she gently sent me back. I was upset and embarrassed at returning to the shop, as I was about 10 years old, but she explained that the money needed to be used for necessities. Who do you speak to about money matters and is it something you consider 'taboo'? My father was in banking and because of my rebellious streak, I didn't heed any of his advice, much to his despair. I do ask him about finances now that I'm older. I bitterly regret not listening to him and know how fortunate I was that he bailed me out more often than I deserved. Who has taught you the most about financial management? My own mistakes. The British school curriculum did not bother to cover interest rates, penalty clauses, APR, mortgages, compound interest, ISA's. Any knowledge has since been gleaned from other successful business people and my own painful losses. What has been the most profound experience you've had so far in relation to money? How vital it is to have financial independence. When I eventually left an abusive partner, who had persuaded me to not work, to isolate me and control me, I found myself alone in a bedsit in a rough neighbourhood. It cost me GBP40 a week (Dh185) and I had a single black bin bag of belongings. I had maxed out a credit card, with horrendous interest. Had I saved money, I would have been safer, not in debt and been able to leave sooner. I vowed to never again allow anyone to interfere with my finances. How do you think living in the UAE has changed your relationship with money? My first job as an executive assistant in DIFC fetched twice the salary I had ever taken home in the UK. It didn't feel real. I promised to buy one frivolous item on pay day (and even those were on sale) and to ensure I had a great place to live, after initially staying in a single room with a broken hose over the toilet. Money cannot solve everything, but it undeniably grants you access to the pillars which stabilise your life: access to better healthcare, a safety net in emergencies, better quality of housing, healthier food choices, the ability to help loved ones. If you could give your child or your younger self one piece of advice about money, what would it be? Don't listen to any man when it comes to your earnings. They are yours, not his, and you have every right to keep your hard earned money. What do you value spending money on? Helping others, spoiling loved ones. Nothing else matters.
