Coldplay’s Portugal run generates €36m for economy

Coldplay’s four nights at the 50,000-capacity Estádio Cidade de Coimbra in Portugal in May generated €36 million for the local economy, according to the city council.

The Music of the Spheres shows were attended by 211,000 fans overall, with each visitor spending an average of €180, concludes the study by the Instituto Superior de Contabilidade e Administração de Coimbra (ISCAC).

Sapo Mag reports that Portuguese promoter Everything is Now invested €545,000 in renovating the stadium to enable it to host the shows.

The concerts had attracted some controversy beforehand when it was revealed the promoter would receive €440,000 from the municipality and was exempted from “municipal fees and prices” for the concerts. The authority also spent €28,000 on restoring the stadium’s pitch.

In return, Everything is New agreed to ensure the council was included as a partner on press materials and meet assembly and disassembly deadlines. It also guaranteed there would be no damage on the athletics track and pay electricity, water and gas consumption while the stadium was being used, among other obligations.

Coldplay’s Music of the Spheres World Tour began in March 2022 and will extend to a third summer

Francisco Veiga, VP of the Chamber of Coimbra, told a committee meeting the gigs offered an “intangible return” for the city, with the transport operation set up for the events also recording a €9,000 profit.

“It is worth investing in this type of concert,” he said, noting that it was only now possible to release the findings as he did not previously have “all the necessary elements” in his possession, including the amount invested in the stadium by Everything is Now.

On the possibility of the venue hosting further live music events in 2024, Veiga added: “There are many promised, but none signed.”

Coldplay’s Music of the Spheres World Tour, which began in March 2022, will extend to a third summer, with the dates for 2024 including the band’s first ever shows in Greece, Romania and Finland, as well as their first show in Rome since 2003 and first visit to Budapest since 2008.

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