Next Tuesday, the Chamber of Coimbra will vote to provide €440,000 of financial support to Everything is New, the company responsible for hosting four Coldplay concerts on campus.
In a press release sent to the Lusa agency, the Coimbra City Council stated that this cooperation protocol “is a fundamental part” in the preparation of the British band Coldplay concerts in Coimbra, helping to “put the city on the route of the world’s biggest events”. .
The Estádio Cidade de Coimbra on May 17th, 18th, 20th and 21st will feature a band led by Chris Martin that will bring together over 200,000 people at four scheduled concerts.
“Given that there will be more than 50 thousand people at each concert, there will be a total of more than 200 thousand people, which means the largest audience for a band/artist in Portugal. Ed Sheeran, who in 2019 drew 120,000 people at two concerts at the Estádio da Luz in Lisbon,” he stressed.
According to the Municipality of Coimbra, in addition to the media exposure that the shows will produce, Coldplay’s performance at the Estádio Cidade de Coimbra will “increase the impact on the local economy” as “the two sectors directly benefit the hotel and the restoration, with obvious financial benefits” .
“Equally important than the revenues and economic returns for the city is the fact that these concerts are a strategic product for tourism in Coimbra, not only because of the huge potential to attract visitors, but also because of the catalytic effect in the city. yourself, justified.
In a note, the municipality, led by José Manuel Silva, elected by the Juntos Somos Coimbra coalition (PSD, CDS-PP, Nós, Cidadãos!, PPM, Aliança, RIR and Volt), also stressed that one of the main virtues of this event is to “promote reflection on a policy of cooperation between agents interested in the cultural and tourist promotion of the municipality, capable of increasing the competitiveness of Coimbra”.
On August 26, 2022, one day after the dates of the concerts at the Estádio Cidade de Coimbra were confirmed, “the capacity of accommodation units in the municipality of Coimbra was sold out for the concert period, with a total of 7,947 beds spread over 26 hotel rooms and 521 local rooms.”
Overnight stays for visitors will also “spread to neighboring municipalities, meaning that eventually the economy of not only the municipality of Coimbra but the entire region will be involved.”
According to the Chamber of Coimbra, out of 200,000 tickets sold, only 3.8% were bought in the Coimbra area, “which implies that the vast majority of visitors come from outside the area, which means that even if part of these visitors are not located in Coimbra, it will certainly consume a wide range of goods and services, bringing significant dividends to the economic agents of the municipality.”
“Recognizing the great international success of Coldplay and the corresponding municipal interest in this event”, the Municipality of Coimbra intends to provide “Everything New” with financial support in exchange for the selection, selection and promotion of the city of Coimbra and the Cidade Stadium. de Coimbra for hosting the show in the amount of 110,000 euros for each concert, for a total cost of 440,000 euros.”
“In case of non-performance of any of the concerts,“ Everything New ”is obliged to return the cost of support,” he concluded.