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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.
