Billion pound stimulus package coming to the UK

[Bob_George]

Saw this article and thought I'd share this story of the free market stimulating the economy at zero cost to the taxpayer.

http://www.bbc.co.uk/6music/news/20090507_jacko.shtml

The Jackson effect
Billion pound Michael Jackson 'economic stimulus package' is coming

by Georgie Rogers

07 May 2009 - The Michael Jackson residency at the 02 Arena is going to give a billion pound boost to the economy, according to the second-hand ticket website Seatwave.

It kicks off in London on 8 July, taking in 50 dates until February next year.

Joe Cohen, chief executive of Seatwave, explained to 6 Music: “There’s gonna be somewhere near on a billion pounds worth of economic activity brought to London through hotels, restaurants, shops, pubs, people coming to see Michael Jackson.

“It’s the Michael Jackson economic stimulus package that the tax payer isn’t paying a penny for.”

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Do you think entertainment is the answer to the economic crisis? What do people do to get their mind of their problems, they go see a concert or a movie. It could be that people like Michael Jackson do more to recover the global economy than Timothy Geithner.

[gdoane]

A billion pounds is worth about $1.5 Billion US Dollars, and with 50 concert dates that would mean each concert draws about $30 Million apiece.

That's about 100,000 concert goers blowing an average of $300 apiece at each of the 50 concerts.

The limits of credibility are being stretched a bit here. We're talking about a guy who hasn't had a hit record in two decades.

[Bob_George]

A billion pounds is worth about $1.5 Billion US Dollars, and with 50 concert dates that would mean each concert draws about $30 Million apiece.

That's about 100,000 concert goers blowing an average of $300 apiece at each of the 50 concerts.

The limits of credibility are being stretched a bit here. We're talking about a guy who hasn't had a hit record in two decades.
Well tickets, accommodation, food and flights would well exceed $300 each. I just think this Michael Jackson O2 residency is a perfect example of how entertainment stimulates to economy in a time of recession. Imagine if he takes the tour worldwide. Which he very well could do because these 50 shows sold out within hours. There's no doubt he'd be able to sell out any arena anywhere in the world at this point. We are talking about a guy how hasn't had a #1 record in about 14 years. But records aren't really important in today's music industry. They just don't sell as much as they used to. The money is made in touring and as far as that goes Michael Jackson is still the king. I'm just saying, entertainment will recover the economy because when people want to take their minds of things they go see a concert or a movie.

[ImNewHere]

You're not taking into account the number of children that will need therapy for the rest of their lives after having been exposed to Michael Jackson.

[King Cantona]

You're not taking into account the number of children that will need therapy for the rest of their lives after having been exposed to Michael Jackson.

:))