Adele's series of Munich concerts this month could break records in both attendance and sales.
, could be the biggest concert engagement ever, both in terms of attendance and ticket sales. It almost certainly represents the biggest bet anyone has placed in the live music business this year.
The shows, promoted by Live Nation Germany and the Austrian Leutgeb Entertainment Group, are held in a custom-built venue that holds 74,000, and the production is reported to have cost more than $100 million, including construction cost. Just the 220-meter-wide screen, said to be the biggest in the world, is said to have cost dozens of millions of dollars.
Concert residencies are becoming more popular, but they are mostly an Anglo-American phenomenon. In this case, Munich is a relatively small city by international standards, with a population of about 1.5 million in a metro area a bit less than four times that. That implies that most concertgoers are coming from outside the city or the country.
All that tourism will bring an enormous amount of money to Munich. The city’s top economic official, Clemens Baumgärtner, has said Adele’s residency will bring in 560 million Euros . The city is an ideal place to hold a residency, given its relative proximity to Austria, Italy and Switzerland; it’s easy to get anywhere in Germany by train and anywhere in Europe by plane. that 95 percent of the tickets had been sold.
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