The two Oasis reunion concerts at the Principality Stadium in July will generate a net economic impact for the economy of nearly £27m, reveals new research.
The analysis, undertaken by the Centre for Economics and Business Research (Cebr) on behalf of Novuna Personal Finance, said the two opening concerts of the Oasis reunion tour will generate a total spend of just over £100m. This includes £23.4m on tickets and £10.7m on merchandising. There will be 149,000 concert goers at the stadium over the two nights.
The net economic impact for Cardiff of £26.8m doesn’t include the spending impact of local concert goers, who are defined as living in Cardiff or within a 10 mile radius. It is made up of £6.1m on travel, £4.5m accommodation, £15.4m food and drink and further spending of £12.8m. It doesn’t include spending on non-local sources, so excludes revenues from tickets, merchandise and non-local travel.
The net figure is derived after also accounting for a £12m deduction for leakages. This includes a negative spending assessment of local residents who will be deterred from, say going to restaurants, bars or shops in the city due to the number of concert goers, as well as those who opt to spend time out of the city during the concerts.
Theresa Lindsay, chief marketing Officer at Novuna Personal Finance, said:“Oasis choosing Cardiff to launch their long-awaited reunion tour is a landmark moment, both for the fans and the city. With fans expected to spend over £100m across the first two nights alone, this is proof that live music powers our cities far beyond the arena gates. It’s a major economic event.”
For the entire Oasis tour, which will also see concerts in London, Manchester and Edinburgh, Novuna’s research has calculated a total concert-related spend of £940.3m. As well as the Cardiff concerts (£100.3m), this consists of £426.3m from the London concerts, £277m in Manchester and £136.6m in Edinburgh.
FOR Cardiff, the city centre’s Business Improvement District, has highlighted the major economic opportunities for local businesses from large scale events that will take place in the capital this summer.
The more than 30 major headline gigs scheduled between June 1 and August 31 will have a combined attendance exceeding 900,000.
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Blackweir Live, a brand-new outdoor concert series at Blackweir Fields, is among the new additions. Organised by Depot Live and Cuffe & Taylor, it will internationally renowned artists such as Noah Kahan, Kings of Leon, Alanis Morissette, Slayer, and Stevie Wonder.
The series is set to activate a traditionally quieter summer period for city centre retail and hospitality. Many of the events fall during midweek, offering a much-needed footfall boost for local businesses at times when trade often dips.
As well as the Oasis concerts other artists that will perform at the Principality Stadium include Lana Del Rey, Kendrick Lamar & SZA, Oasis, Stereophonics, Chris Brown and Catfish & the Bottlemen.
At Cardiff Castle artists like Tom Jones, Sting and Basement Jaxx will be headlining over the summer.
Executive director of FOR Cardiff, Carolyn Brownell, said: “These concerts are not just cultural milestones – they’re economic engines. “They benefit everyone from hotels and restaurants to taxi drivers, retail operators and late-night venues. With a significant proportion of tickets being sold to out-of-town visitors, the impact ripples far beyond the venues themselves.
“Major events like these summer gigs are crucial for bringing in new audiences and reinvigorating the high street, and at FOR Cardiff we remain committed to ensuring that Cardiff thrives as a dynamic and economically robust capital city that is safe and welcoming to all, and competes strongly among the 海角视频’s best cities to visit.”
cabinet member for culture, parks and events, Jennifer Burke, said, “Live music is central to our vision for Cardiff. This summer’s events will help cement the city’s status as a must-play destination for major artists, bringing significant economic benefits and helping us to continue delivering our long-term ‘music city’ strategy to protect and develop every level of the music sector and position Cardiff as a leading music tourism destination.”
Novuna Consumer Finance is one of the 海角视频’s leading providers of retail point of sale finance and personal loans, lending £2.3bn to more than a million customers annually.