Countries with better, bigger, and more competitive concert venues have reaped economic benefits, especially with the massive and significant influence of popular international acts like superstar Taylor Swift's Eras Tour and Coldplay's World Tour in consumer behavior and spending.
Driving tens of thousands of 'Swifties' and concert enthusiasts, the success of these concerts was an economic stimulus for countries worldwide, including SEA countries like Singapore and Japan. Filipino fans alike had to spend big and travel miles to watch the exclusive performance of superstar Swift in Singapore's National Stadium while others went to Japan's Tokyo Dome and Sydney's Accor Stadium in Australia. The massive concert gigs boosted the respective country's economies, benefitting entertainment, retail, and transport industries significantly.
While Singapore's strategy for a SEA exclusive Swift performance piqued interest and likewise piqued its neighboring countries, the strategic move sparked conversations and brought to light what the Philippines can improve on in terms of concert venues.
1. Location is key. The Philippines doesn't lack in big venues. In fact, it boasts of venues that can rival Singapore's National Stadium and Japan's Tokyo Dome. Accessibility to the location as well as public transportation and nearby commercial establishments are key.
2. Concert Experience. Singapore's pride, the National Stadium, has innovative feature such as the world's largest free-spanning dome, a retractable roof and comfort cooling technology for spectators' convenience. Its innovation, strategic location, and efficiency bring positive and immersive experiences for enthusiasts and concert fans, making it a magnet for entertainment acts from all over the world. A similar concert venue and experience is something that Filipino concert-goers are hoping the country can replicate.
3. World-class concert amenities and facilities. Accessing the venue's amenities and facilities should offer a premium music experience for concert enthusiasts or convenience in a sporting event.
Take note for example the SM Mall of Asia Arena- a flexible indoor arena developed in 2012 by leading integrated property developer SM Prime- that has been a top-of-mind venue for all sorts of events and offers a unique concert experience. With a full house seating capacity of 20,000, it has been a haven for thrilling sports events, remarkable OPM shows, and unforgettable international superstar performances.
Meanwhile, the SMDC Festival Grounds in Paranaque City is likewise an enormous outdoor venue that can accommodate at least 50,000 people. Ed Sheeran's Mathematics Tour and Rivermaya: The Reunion were among the performers that have graced the stage recently.
4. Achieving Filipinos' concert dreams. One of the most forward-looking plans of SM Prime is its 360-hectare smart city development which is envisioned to bring in a centerpiece to the country's entertainment and sporting events- larger in capacity and a more enhanced venue infrastructure that would attract legendary icons in the entertainment scene and compete against SEA and the world's best. It will feature an estimated 70,000-capacity stadium and concert arena connected to one of the island's main destination paradises called Central Park. The sizable arena is envisioned to be the Philippines' biggest concert venue, with world-class facilities and sustainable features, comparable to other big concert venues worldwide. Once that's built, Filipinos won't have to fly overseas because they can watch top-tier performances right from the comfort of their home country.
Without a doubt, Pinoys live and breathe entertainment shows. In fact, Filipinos are the 4th top concert spenders in APAC according to digital payments company Visa, proof of how passionate we are about concerts. By investing in the development of modern, smart, and accessible concert venues, Filipino concert enthusiasts can continue to embrace and celebrate live performances with the convenience, comfort, and enjoyment they deserve. Beyond entertainment, well-curated, smart, and innovative concert facilities can further drive economic benefits to the Philippines' national and local economies, including ancillary local spending in retail, tourism, and hospitality.
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