Coldplay’s record-breaking two-night concert at the Narendra Modi Stadium in Ahmedabad drew over 223,000 fans, making it the largest stadium concert of the 21st century. While social media was abuzz with claims that the shows added $1 billion (₹8,300 crore) to the Indian economy, one Chartered Accountant decided to crunch the numbers—and the results tell a different story.
The real numbers behind Coldplay’s India impact
CA Kanan Bahl, in a post on X (formerly Twitter), dismissed the $1 billion claims and estimated the real economic impact at ₹886 crore ($102 million).
He wrote, “Influencers were making claims of Coldplay adding $1 billion to the economy. It made me curious, so I decided to deep dive. My estimate suggests that this number is ~₹886 crores or $102 million.”
Breaking down the spending patterns, Bahl estimated that attendees spent ₹20,000 to ₹27,000 per head on average, with major expenses including:
- Tickets: ₹352 crore
- Travel, accommodation, and food & beverages: ₹498 crore
- Merchandise: ₹11 crore
- Sightseeing and allied expenses: ₹25 crore
He further noted that 75% of Mumbai attendees and 80% in Ahmedabad travelled from outside the host cities. The ticketing giant BookMyShow reportedly netted ₹32 crore in platform fees, accounting for 10% of total ticket sales.
Social media reacts to the estimates
Bahl’s analysis quickly sparked debate online. Some users questioned the accuracy of his numbers, particularly travel and accommodation costs.
One user argued, “Travel and accommodation should be almost double of what you have guessed.” Another added, “Even after averaging out, the numbers for travel and accommodation are way higher. Return flights, two-night stays, and high ticket prices push the average to ₹80K-₹1 lakh per person.”
India’s booming live music economy
Coldplay’s historic concert underscored India’s growing prominence as a live music hub. The ticketed live music industry is projected to reach ₹1,864 crore ($223 million) in 2025, while the overall live events market is set to grow from ₹88 billion in 2023 to ₹143 billion by 2026 at a CAGR of 17.6%.
Even Prime Minister Narendra Modi acknowledged the impact, stating at the Utkarsh Odisha Conclave, “The fabulous pictures from Coldplay concerts in Mumbai and Ahmedabad show India’s massive scope for live concerts. Big artists from around the world are attracted to India.”