Latest news with #RaghavAnand
India Today
05-05-2025
- Entertainment
- India Today
How Ahmedabad's Coldplay tour bounty signals India's prospering concert economy
The Coldplay 'Music of the Spheres' concert, held at the Narendra Modi Stadium in Ahmedabad on January 25-26, has delivered a staggering economic windfall for the city. According to a comprehensive report by EY-Parthenon and BookMyShow, the event, which drew over 222,000 fans, generated an estimated Rs 641 crore bounty for the local event catalysed a multi-sector economic surge, with direct contributions of Rs 392 crore to Ahmedabad's economy and Rs 72 crore in Goods and Services Tax (GST). The report details a ripple effect across tourism, hospitality, transportation and retail, positioning the city for more such large-scale airport handled 138,000 travellers over three days, including 112 chartered flights. Hotels operated at full capacity, with rates soaring to historic highs, while restaurants and local transport services reported record revenues. The report notes that 86 per cent of attendees travelled from outside Ahmedabad, representing over 500 cities. Social media posts relating to the two concerts in Ahmedabad reached 350 million and the combined media coverage 1.2 billion.'The economic impact estimation is based on actual revenues from ticketing, in-concert food and beverage, merchandise and parking,' said Raghav Anand, partner and leader-digital, media and convergence, EY-Parthenon. 'Additionally, the broader economic contribution, including attendees spending on travel, accommodation, local transport, shopping related to the concert, etc., was estimated through a survey of 2,821 concert attendees conducted by BookMyShow,' he report claims the concert's economic impact extended beyond immediate financial metrics. It created an estimated 15,000 jobs, spanning event management, security, logistics and volunteer roles, demonstrating the labour-intensive nature of such events. Local businesses, from street vendors to high-end retailers, benefited from increased footfall, while the event's operational scale—featuring 130 food and beverage stalls, 54 hydration stations and 68 food trailers—underscored the logistical the event's success reflects broader trends in India's concert economy, which surpassed Rs 12,000 crore in 2024 and is projected to grow at a CAGR (compound annual growth rate) of 19 per cent over the next three years. Rising disposable incomes, rapid digital adoption, and a young, experience-hungry audience are driving demand for world-class entertainment. The report cites the growing interest in international artistes/bands such as Ed Sheeran, Dua Lipa and Green Day as evidence of India's ascent as a destination for live hard-rock band Guns N' Roses will return to India after a 13-year hiatus, for a performance at the Mahalaxmi Race Course in Mumbai on May 17. Speculation abounds about artistes such as Eminem, Taylor Swift, BTS and Adele performing in India this year, but no confirmed dates or venues are available. A post on microblogging site X speculated about Adele performing at a major event in Mumbai (July 12-14), but this lacks corroboration from reliable the future looks promising, the EY-Parthenon and BookMyShow report highlights challenges that must be addressed to maintain this momentum. Complex regulatory frameworks and permission delays pose barriers for event organisers. The recommendation for a single-window-clearance portal and public-private partnerships to streamline approvals and finance infrastructure upgrades is investments in large-capacity venues and accessibility enhancements, such as improved transport and facilities for persons with disabilities, are equally vital. Ahmedabad's success, facilitated by collaboration with local authorities and infrastructure enhancements such as extended metro services, sets a precedent for other cities.'This was the first live music concert at the Narendra Modi Stadium—a landmark moment for live entertainment in India. Globally, stadia are commonly used as concert venues; yet in India, this practice has been limited. Despite the country boasting of numerous state-of-the-art cricket and football stadia, their potential beyond sporting events has remained underutilised,' says Anil Makhija, COO-live entertainment and venues, the Coldplay concert, the challenge of preserving cricket pitches was addressed by deploying specialised pitch and turf protectors, added breakthrough serves as a compelling case study, inviting other Indian cities to harness the economic potential of the live entertainment boom, the report to India Today Magazine
Time of India
01-05-2025
- Business
- Time of India
Coldplay Concert in Ahmedabad Generates ₹641 Crore Economic Impact
A new report by EY-Parthenon and BookMyShow Live shows that Coldplay's concerts in Ahmedabad had a major economic impact. The two shows, held in Ahmedabad, brought in ₹641 crore, including a direct boost of ₹392 crore to the local economy. Tired of too many ads? go ad free now Spending on hotels, transport, food, and shopping went up sharply. GST revenue from the concerts reached ₹72 crore. The report says 86% of fans travelled to Ahmedabad from outside the city. Over 222,000 people attended across two nights, with special trains and extra flights helping them reach the venue. Hotel room prices rose sharply, and the city's airport and metro services broke records. Speaking on the report, Raghav Anand, Partner and Leader – Digital, Media and Convergence, EY-Parthenon, said, "As we witness the dynamic growth of India's live entertainment sector, which has surpassed the INR 12,000 crore mark in 2024 and is projected to grow at a robust CAGR of around 19% over the next three years, the increasing consumer spends are fueling this transformative journey. This surge in consumer enthusiasm for world-class events reflects not just a rising disposable income but an evolving cultural fabric that craves immersive experiences. The economic potential of this sector is tremendous, creating a ripple effect across allied industries and fostering opportunities for creators and local professionals alike." Many concertgoers stayed longer, spent more, and visited local attractions. More than one-third explored the city's markets and heritage sites. Most of the audience was under 35, showing strong interest from young people. The concerts created thousands of jobs. Around 9,000 of the 15,000 people involved in the event were from Ahmedabad. The organisers also focused on safety, accessibility, and reducing waste. Over 95% of the waste was kept out of landfills. This event shows how live entertainment can help cities grow. Tired of too many ads? go ad free now The report calls it a model for other cities to follow. With proper planning and support, more cities in India could host global music events and benefit from the rise in cultural tourism. Coldplay's shows in Ahmedabad are a sign that India is ready to be a global stage for major entertainment events.
The Hindu
01-05-2025
- Business
- The Hindu
Coldplay's Ahmedabad concerts created economic impact of ₹641 crore: report
British rock band Coldplay's concerts in Ahmedabad generated an estimated overall economic impact of ₹641 crore including a direct boost of ₹392 crore to the city's economy, with significant spending on accommodation, transport, dining and retail, said a report released on Wednesday. With 86% fans travelling to the host city, Coldplay's 'Music Of The Spheres' concerts in Ahmedabad trigger a new paradigm for cultural tourism, city branding and mega-event infrastructure, the EY-Parthenon (EY-P), the leading strategy consulting firm and BookMyShow Live revealed. Dubbed India's largest-ever live entertainment spectacle, Coldplay delivered the two-night 'Music Of The Spheres' concerts in Ahmedabad. In a significant endorsement of India's growing concert economy, Prime Minister Narendra Modi during his address at the Utkarsh Odisha - Make in Odisha Conclave 2025 said, 'In a country with such a rich heritage in music, dance and storytelling, with such a large pool of youth and a massive consumer base for concerts, there are vast opportunities for the concert economy. In the past decade, both the trend and demand for live events have grown. You must have seen the incredible images from the Coldplay concerts in Mumbai and Ahmedabad in recent days. This is proof of how much scope live concerts have in India.' Speaking on the report, Raghav Anand, Partner and Leader Digital, Media and Convergence, EY-Parthenon, said, 'As we witness the dynamic growth of India's live entertainment sector, which has surpassed the Rs 12,000 crore-mark in 2024 and is projected to grow at a robust CAGR of around 19 per cent over the next three years, the increasing consumer spends are fuelling this transformative journey. This surge in consumer enthusiasm for world-class events reflects not just a rising disposable income but an evolving cultural fabric that craves immersive experiences'. According to the report, Ahmedabad concerts delivered significant economic windfall, generating an estimated economic impact of ₹641 crore in total, including a direct boost of ₹392 crore to Ahmedabad's economy, with significant spending on accommodation, transport, dining and retail. It also contributed ₹72 crore in GST revenue to the Government of India, underlining its powerful fiscal impact.
Time of India
01-05-2025
- Entertainment
- Time of India
Coldplay's Ahmedabad concerts generated Rs 641 crore economic impact: Report
NEW DELHI: British rock band 's two-night 'Music of the Spheres' concerts in Ahmedabad created an estimated overall economic impact of Rs 641 crore, with a direct boost of Rs 392 crore to the city's economy, a report by EY-Parthenon and BookMyShow Live revealed on Wednesday. Tired of too many ads? go ad free now The concerts, dubbed India's largest-ever live entertainment spectacle, significantly contributed to local infrastructure, hospitality and cultural tourism. As per news agency PTI, 86 per cent of the attendees had travelled from outside the host city, leading to sharp rises in spending on hotels, transport, dining and retail. The event also contributed Rs 72 crore in GST revenue to the Government of India, demonstrating the fiscal strength of the live entertainment sector. Raghav Anand, partner and leader - digital, media and convergence at EY-Parthenon, said, 'As we witness the dynamic growth of India's live entertainment sector, which has surpassed the Rs 12,000 crore mark in 2024 and is projected to grow at a CAGR of around 19 per cent over the next three years, the increasing consumer spends are fuelling this transformative journey.' Prime Minister Narendra Modi had also endorsed the concert economy in his address at the Utkarsh Odisha - Make in Odisha Conclave 2025. Citing Coldplay's performances in Ahmedabad and Mumbai, he said, "In a country with such a rich heritage in music, dance and storytelling, with such a large pool of youth and a massive consumer base for concerts, there are vast opportunities for the concert economy. In the past decade, both the trend and demand for live events have grown. You must have seen the incredible images from the Coldplay concerts in Mumbai and Ahmedabad in recent days. Tired of too many ads? go ad free now This is proof of how much scope live concerts have in India." The Ahmedabad shows also triggered a shift in city branding and created a new template for mega-event infrastructure. The concerts, held at the Narendra Modi Stadium on January 25 and 26, drew more than 2.5 lakh visitors, with over 1.7 lakh coming from outside Gujarat, according to ICC chair Jay Shah. Calling it a 'proud moment for India,' Shah said, 'Coldplay recorded their biggest concert with 1,34,000 in attendance,' and added that Ahmedabad has now become an epicentre for both sporting and entertainment events. Coldplay, too, acknowledged the scale, writing on X: 'Our biggest ever concert. Totally mind-blowing. Thank you Ahmedabad.' Fans and officials alike celebrated the event's seamless execution and massive turnout.
Time of India
30-04-2025
- Entertainment
- Time of India
Coldplay's Ahmedabad concerts created economic impact of Rs 641 crore: Report
British rock band Coldplay's concerts in Ahmedabad generated an estimated overall economic impact of Rs 641 crore including a direct boost of Rs 392 crore to the city's economy, with significant spending on accommodation, transport, dining and retail, said a report released on Wednesday. With 86 per cent fans travelling to the host city, Coldplay's 'Music Of The Spheres' concerts in Ahmedabad trigger a new paradigm for cultural tourism, city branding and mega-event infrastructure, the EY-Parthenon (EY-P), the leading strategy consulting firm and BookMyShow Live revealed. #Pahalgam Terrorist Attack A Chinese shadow falls on Pahalgam terror attack case probe How India can use water to pressure Pakistan Buzzkill: How India can dissolve the Pakistan problem, not just swat it Dubbed India's largest-ever live entertainment spectacle, Coldplay delivered the two-night 'Music Of The Spheres' concerts in Ahmedabad. In a significant endorsement of India's growing concert economy, Prime Minister Narendra Modi during his address at the Utkarsh Odisha - Make in Odisha Conclave 2025 said, "In a country with such a rich heritage in music, dance and storytelling, with such a large pool of youth and a massive consumer base for concerts, there are vast opportunities for the concert economy. In the past decade, both the trend and demand for live events have grown. You must have seen the incredible images from the Coldplay concerts in Mumbai and Ahmedabad in recent days. This is proof of how much scope live concerts have in India." by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Hollywood Actress Leaks Weight Loss Trick, Gets Fired! nutritiouslivingtips Learn More Undo Speaking on the report, Raghav Anand, Partner and Leader Digital, Media and Convergence, EY-Parthenon, said, "As we witness the dynamic growth of India's live entertainment sector, which has surpassed the Rs 12,000 crore-mark in 2024 and is projected to grow at a robust CAGR of around 19 per cent over the next three years, the increasing consumer spends are fuelling this transformative journey. This surge in consumer enthusiasm for world-class events reflects not just a rising disposable income but an evolving cultural fabric that craves immersive experiences". According to the report, Ahmedabad concerts delivered significant economic windfall, generating an estimated economic impact of Rs 641 crore in total, including a direct boost of Rs 392 crore to Ahmedabad's economy, with significant spending on accommodation, transport, dining and retail. It also contributed Rs 72 crore in GST revenue to the Government of India, underlining its powerful fiscal impact.
