Coldplay’s Concerts: Syed Saddiq breaks down the dollars and cents, Malaysia on losing end

SHAH ALAM - Muda President Syed Saddiq Syed Abdul Rahman expressed disappointment over Malaysia missing out on the economic benefits of hosting a Coldplay concert, unlike neighboring Singapore.

Syed Saddiq highlighted that Coldplay performed a six-day tour in Singapore, while Malaysia faced numerous obstacles in organising even a single concert.

"Coldplay did a six-day 'tour' in Singapore. Yesterday was five days, today they added another date.

"Malaysia wants to do even one concert, there are many obstacles. But what does the Coldplay concert in Singapore have to do with Malaysia.

"We actually missed an economic lottery," he said in a post on his Facebook page today.

Syed Saddiq claims that Singapore is projected to earn RM180 million in ticket sales from the six-day Coldplay concert.

With the Singapore National Stadium accommodating 50,000 attendees per show, generating RM30 million in ticket sales daily, the economic spillover from tourists staying and spending in the country during the event further adds to the potential revenue.

"Attendees traveling long distances would not simply attend a concert for a few hours; they would also engage in other activities like dining and sightseeing," he added.

He estimated that a person would spend around RM500 daily, resulting in significant economic gains from tourist spending during the six-day event.

"My point is that when we here are arguing about Malaysia organising concerts, other countries were taking advantage of organising concerts to generate an economic surplus," explained Syed Saddiq.

The Muar MP said that Malaysia used to organise 40 to 50 concerts a year, but now there are more and more obstacles and complaints.

He stressed that Malaysia must exploit the economic opportunities generated by organising concerts.

Coldplay is scheduled to hold a concert in Malaysia on November 22.

Meanwhile, the band announced an additional show in the Philippines due to high demand after tickets for the initial date sold out.

The Music of the Spheres World Tour by the British rock band will take place in Bulacan on January 20, 2024, following the first show on January 19, 2024.

Coldplay is also set to perform sold-out shows in Bangkok and a six-night residency in Singapore.