The Singapore National Stadium is set to hold British band Coldplay for six shows next January, and Taylor Swift steadily follows with also six shows in March.
Singapore will be Swift’s only Southeast Asian stop. We also observe the sold-out tickets for Hong Kong star Jacky Cheung’s 11 shows at the Indoor Stadium for this July and August.
Why are there so many sell-out concert shows in Singapore? The DollarsAndSense team breaks down the economics of concerts to explain why so that you won’t panic the next time your favourite star’s show is sold out (again).
Concert Organisers Need To Gauge Demand
You may have noticed that the concert organisers usually announce their intention to hold a concert in the country first and there will be only two to three days of the show expected.
Although fans may cause an uproar about the limited seats available, this is a method done by the organisers to gauge demand. If the show is a flop, and it is seen with limited interest and in the organisers’ minds at least the two days will be partially filled and not a total waste – it will also not look bad, or look unpopular.
It’s A Marketing Strategy
If you think that the celebrity (celebrities) are adamant that they will only perform in Singapore for a short stint, think again. Usually, the limited days per destination will be adjusted according to demand for the superstar(s) world tour, and they are more or less prepared for it. There is usually a plan to add more days if there is really keen demand, because hey, who would say no to more sales.
Other than portraying a scarcity of supply of shows to drive up demand, there is often a backup plan to adjust the days per destination depending on demand. For example, if the world tour is a month-long, and the earlier cities the celebrity is set to perform in are showing lower demand, then the organisers will extend more days in regions that are keener in the event. The tour can also be extended, as these plans are not usually cast in stone.
Singapore’s Allure As A Regional Hub
Singapore is a preferred hub in the region, given that it has organised world-class events like the Formula 1 Singapore Grand Prix, among others. International clients will prefer a host that can replicate large-scale events without hiccups, so that the press and media can also give favourable coverage as well.
Given that the nation is used to large performance events, it would be ideal for organisers to select Singapore as a host as it is likely to be able to enable a smooth performance and provide a good time to both the audience, as well as the celebrity on the road tour.
We must also note that Singapore also has a track record of being an ideal location for performing artists due to its plethora of hospitality facilities such as hotels, food and transport. The ease of obtaining work permits and visas for tour members is another key consideration.
Demand From Asia Audience
Many concert organisers and performers choose Singapore as a choice for hosting their shows, and this draws concertgoers from Asia and the region to book for tickets to catch their favourite celebrities here. As an Asian destination, it would be cost-efficient for people in the region and Asia to travel to Singapore to catch the concert here than to go to the United States or Europe to catch the same concert.
This demand from Asia is seen in other events such as Formula 1 and the recent debut of the Southeast Asia SneakerCon held at Expo, which drew large crowds from Asia to Singapore. This can also be noted from Coldplay’s choice to run six shows in Singapore and selecting it as the main stop in Asia for its upcoming Music of the Spheres World Tour.
Singapore Tickets Are More Costly
It is a known fact that Singapore concerts are more expensive. Most of the favourite acts are United States and Europe natives, hence coming all the way to Asia with the barrage of equipment and talent team will definitely cost more. This is a logistics feat, from the dancers to make-up crew, stage props and the superstar(s).
The various points above also contribute to higher demand, which then allows the organisers to drive up prices. People are willing to fork out “an arm and leg” to see their favourite stars live, with some even buying ridiculously priced tickets on Carousell (the $1,000 a ticket Coldplay fiasco).
With the high demand, the organisers and vendors can clearly charge more, which will lead to a higher profit per sale of each ticket here. This makes Singapore a more favourable choice compared to other cities as a show here might generate higher profits than a show elsewhere. This makes it a “win-win” for both the organiser and the concertgoer (who will stand a chance to collect a bottle of the same air that was breathed by a celebrity, like Ji Soo’s).
Featured Image Credit: Taylor Swift Instagram
Read Also: Complete Guide To Booking Concert Tickets At Marina Bay Sands (MBS)
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