The city of Rio de Janeiro estimates that a Madonna concert this Saturday on Copacabana beach could move almost BRL 300 million (nearly USD 57 million), considering hotel accommodation, boat rentals, transport, restaurants, and other services.
It is twice as much as what Taylor Swift’s Eras Tour generated but 15 times less than what the city raked in with this year’s Carnival (BRL 5 billion or USD 977 million). Still, Madonna will perform during the low season. Rio de Janeiro City Hall estimates that Brazilian tourists from other states will spend BRL 491 per day, while foreign visitors will spend BRL 562 during their stay in the city.
The amount is perhaps coherent with all the numbers involved in the event. The total cost was not disclosed by Itaú, the concert’s major sponsor, but some other numbers have been revealed. The total cost of the presentation is almost BRL 60 million. The amount of BRL 59,908,437.50 (USD 11.7 million) appears in a document sent by the state government of Rio de Janeiro to its cultural foundation Funarj. The singer’s fee, information contained in another state government document obtained by a columnist of the newspaper O Globo, is reportedly BRL 17.075 million (USD 3.3 million).
The municipal administration expects to gather 1.5 million people on Copacabana beach, similar to the number attending the city’s New Year’s Eve event. The crowd is expected to be made up of 85 percent of residents of Rio and nearby cities, 12 percent of Brazilian tourists, and at least 3 percent of foreign visitors. If the numbers are confirmed, it will be the biggest concert of the Queen of Pop’s career.
In addition to Itaú, the Heineken Group is also sponsoring the show, which also has support from Deezer, Eventim, Absolut, and Stanley. The values of all these private sponsors were not disclosed. On the government side, the state and municipal governments are injecting BRL 10 million each as sponsors.
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