KUALA LUMPUR – The Coldplay concert in Malaysia is not merely a musical spectacle, but rather an economic crescendo that the country needed, stakeholders covering a range of industries said.
Economist Mohd Afzanizam Abdul Rashid of Bank Muamalat Malaysia Bhd asserts that globally acclaimed artists like Coldplay have the power to draw in tourists – stimulating spending across various sectors such as hotels, transportation, culinary experiences, and local businesses.
“Our ringgit is very competitive from the tourists’ point of view, especially from Europe and the UK. So in terms of currencies, Malaysia is definitely a very cost-effective (destination) for them.
“Having international bands like Coldplay would escalate our tourism industry,” he told Scoop today.
Afzanizam also suggested the Malaysian government broaden its promotion efforts beyond entertainment, delving into historical sites, cultural diversity, and sports.
He also advocated for creative strategies, urging the government to harness the influence of social media and TikTok, even involving “mat salleh” (westerner) influencers.
“The government needs to crush catchy campaigns on social media like TikTok, maybe they want to leverage TikTokers to promote Malaysia.
“I think some ‘mat salleh’ can speak Malay and they can promote Malaysia by saying, ‘I like Malaysian food’. Be creative,” he said.
Record breaking attendance
The Coldplay concert, held on November 22 at the Bukit Jalil National Stadium (SNBJ), saw a record-breaking attendance of 75,000 fans – surpassing the longstanding record set by Datuk Siti Nurhaliza in 2004.
Tickets – ranging from RM228 to RM3,088 – sold out within hours, making it one of the most profitable concerts at SNBJ, according to a spokesperson.
The stadium’s 2% commission on total ticket sales for entertainment events contributed to its profitability.
SNBJ anticipates another lucrative event with Ed Sheeran’s concert scheduled for February next year.
“The 2% commission only applies to concerts and not soccer tournaments,” she said.
According to the spokesperson, if the concert with attendance is below 5,000, the stadium will decide whether to charge the organiser with a 2% commission or RM200,000.
Meanwhile, the majority of the concertgoers preferred to use public transport services like Rapid KL and Grab to prevent high traffic and limited parking slots.
Based on figures by the Statistics Department highlighted by activist Adrian Lim Chee En recently, the Coldplay concert day witnessed a remarkable surge in Rapid KL ridership, with a staggering 86,000 passengers commuting from the Bukit Jalil LRT station to various destinations.
In the reverse direction, the ridership from all stations to Bukit Jalil LRT station reached 50,213, while the ridership originating from Bukit Jalil LRT station stood at 36,469.
In stark contrast, on regular days, both routes typically record a ridership of 3,000 to 4,000 individuals combined.
On average, LRT riders spent RM3 for their trips to and from the venue, meaning that Rapid KL generated at least RM240,000 – solely from the event.
This surge in ridership indicates that approximately 13,000 concertgoers opted for public transport after the Coldplay concert, with many of them choosing to use Grab services to avoid long lines and ensure a convenient journey home.
Rahul Kukreja, owner and director of entertainment agency RK Live Asia and The Bee Publika, shared insights into his collaboration with Coldplay during the Bangkok leg of its A Head Full of Dreams tour.
Notably, Rahul emphasised that for high-profile artists like Coldplay, a specific “artist fee” for their appearance in Malaysia alone might not be applicable.
Instead, these artists often enter deals with organisers for a set number of tour dates, with revenue shared from various sources such as ticket sales and merchandise amounting to hundreds of millions of dollars per tour.
Addressing logistical aspects, Rahul highlighted that despite mega acts like Coldplay transporting their entire staging equipment, local manpower remains crucial for executing a successful show.
This includes security personnel, audio and visual technicians, cleaners, and others. Additionally, those indirectly involved, such as food vendors and sellers of disposable raincoats, also stand to benefit from the event.
“It’s good to see that people are now realising that this business costs zero dollars for the government to make billions,” he said.
“All we (event organisers) need is the government to let us run the show and support us.”
He further urged the government to recognise the potential of music tourism, citing Singapore as an example where dedicated divisions focus on boosting tourism through concerts and aiming to position the country as the entertainment hub of Southeast Asia by attracting top global names.
Malaysian Association of Hotels president Christina Toh, concurred that the Coldplay concert significantly boosted the economy by bringing in higher hotel occupancy and increased spending.
“The hotel occupancy in the city during these few days was definitely higher,” she told Scoop without elaborating on the exact figure generated by the event.
“Whilst this was only a one-day concert, it has boosted the retail, food and transportation economy.” – December 1, 2023