Six-figure windfall may be on the cards as West Brom make official announcement in last 24 hours
West Brom have made an announcement in the last 24 hours that could rake in up to a six-figure windfall which will be welcome news for the club.
The Baggies stated on their website on 22 December that the Hawthorns will be hosting two concerts over the summer.
Stars of London’s West End will be performing two shows at the end of May and the start of June which include an evening of ABBA and an 80s bash.
Hosting concerts diversifies the revenue streams for the club and seasons have breaks so during these periods the stadium sits idle and thus does not generate any money.
By tapping into the entertainment industry, the club maximises the facility’s utility, turning downtime into profitable opportunities.
Stadiums up in the Premier League charge even seven figures [Football London], but given the Hawthorns’ capacity and it not really being a top-tier stadium, a six-figure windfall over the two days is certainly on the cards with everything that goes into the event.
Deloitte’s Annual Review of Football Finance 2023 has also revealed that clubs charge six and seven figures to rent out their grounds for event
Concerts also attract a broader audience beyond traditional football fans.
Music events draw diverse crowds, potentially introducing new individuals to the stadium and the West Brom brand.
This exposure can contribute to heightened community engagement and foster a positive relationship with the local residents.
Moreover, hosting renowned acts enhances the stadium’s reputation as a versatile and desirable venue.
This not only generates additional revenue through event bookings but also strengthens the club’s position as a hub for entertainment in the region.
The inclusion of themed events like ABBA and an 80’s Bash demonstrates a strategic understanding of popular trends, catering to a wide demographic and it’s good to see the Hawthorns being used as a multi-purpose venue.
In other West Brom news, a near £7billion development may shape the club’s January plans with Carlos Corberan to be demanding.