Oasis Reunion Tour - FOMO for your business or overhyped?
See how event intelligence can help to effectively plan and prepare for this mega event.
Unless you have been living under a rock, in a hole underground on an undiscovered different planet over the last week or so you would have been, like me, one of the millions of people who collectively spent a large chunk of their weekend staring at multiple devices, too scared to move away from our screens through fear of losing your place in the queue, trying to get your hands on some Oasis Reunion Tour tickets.
The fact that many of us ignored the simple maths that the numbers in the queue far outweighed the number of available tickets just highlighted the unprecedented demand and excitement for this event.
As the dust settles after the ticketing carnage last weekend for those of you that were successful, congratulations, knowing many of you are still licking your wounds after having to pay, in the majority of cases, way over the odds due to surge pricing enforced by the ticketing companies based on demand. As for the majority of unlucky ones that were left disappointed, we will simply have to continue to see the various video posts & memes playing out across all our socials for a little while longer yet!
But there is hope! With two new dates recently announced and a promise of tighter control over ticketing pricing this time, with even the UK government getting involved, let’s get those devices charged back up and have your supplies at the ready this time around for another pass.
However, there is a bigger challenge that awaits. With just 10 months until the band takes to the stage, a new opportunity now creates itself for businesses operating in those headline cities. For what will be the hottest ticket in town and having already seen demand far outstripping supply, the tour presents both significant opportunities and logistical challenges for those cities and the surrounding areas.
Coming hot on the heels of “Swiftonomics” and the economic boost Taylor Swift brought into the UK & Irish economies during this summer, smarter businesses are emerging that are starting to integrate more data intelligence into understanding how an event can create an opportunity that presents itself and to the ensure the right plans are in place to maximise the revenue that can be generated from those events and ensure they do not experience the same FOMO that many fans are experiencing this week.
Economic Impact: Break Down by Numbers
The Oasis reunion tour is poised to inject a substantial economic boost into local economies across the UK and Ireland. Let's examine the projected figures:
Total capacity across 19 shows: 1,545,000 attendees
Total ticket revenue: £314.7m
Total spend (including tickets): £765.6m
Total spend (excluding tickets): a £450.8m boost to the economy
Projected aggregated spend by individual: £495
With cities set to see:
F&B - Pubs, bars, restaurants & fast food expected to rise 16% vs steady state
Taxis & Rideshare - 12% rise vs a usual weekend
Fans expected to spend over 3 times more on the day vs a normal weekend
Accommodation expected to rise by up to 2x due to demand and willingness from fans to pay premium prices
How can businesses harness this data - the use cases:
To set the right prices - Whether you are looking to sell hotdogs or hotel beds ensure you set the right dynamic price based on the demand
Optimise your workforce to ensure you have the right number of staff on the day to service the demand and maximise your potential revenue earnings
Stock up! Make sure you not only have the right amount of staff to pull the pints but also the right amount of beer in stock to ensure you don't run dry!
Ease the logistical minefield of travelling to the venue - Governments can use this intelligence to help to make informed decisions to prepare for this swell. Putting on more public transport, easing crowd management in and around the venues and maximising to promotion of sustainable event planning & mitigate environmental impact
Helping to solve FOMO for businesses
For a full detailed report including the breakdown by event venue and how to use this data for your business please contact us.