Businesses thunderstruck as AC/DC shows boost spending
AC/DC, Metallica and other music greats are ready to shake up Australian businesses and send them back aground.
Australians are expected to spend an extra $424 million on merchandise, accommodation, bars and food as Metallica and AC/DC arrive in Sydney in the next two weeks, a bank has said.
The 10 days between Metallica’s Saturday performance and AC/DC’s November 25 show will be one of the city’s busiest periods of 2025, with more than 210,000 people expected to attend the shows.
During a typical 10-day period, consumers typically spend around $334 million in the central business district, inner suburbs and Stadium Australia area.
However, this is expected to increase by 26 percent.
“Big events are really vital to drive that extra spend and create real excitement in the city,” NAB’s small business manager Krissie Jones told AAP.
“Concerts like this are not just cultural events, they are economic powerhouses.”
Spending on general goods is expected to more than double to 131 percent.
Consumers are also expected to spend money on accommodation, which could increase by up to 81 per cent, and on bars and pubs, where spending is expected to rise by 49 per cent.
Fast food spending is expected to increase by 34 percent, while restaurant spending is expected to increase by up to 24 percent.
Melbourne experienced a similar economic boost following the four-day Melbourne Cup Carnival and concerts by Oasis and Metallica, with consumers paying around $250 million.
The city’s nighttime mayor, James Young, even wrote a letter to the Gallagher brothers’ band after the rock’n’roll dive bar racked up a week’s earnings in one day during its biggest weekend on record.
He said the event was a huge group hug and “saved pubs and bars in Melbourne”.
Following closures and years of increased cost pressures due to the COVID-19 pandemic, such events have helped businesses recover.
Business conditions rose two points in October to their highest level since March 2024, but confidence fell 2 points, according to NAB’s monthly business survey.
“Of course, there are certain businesses that make this difficult, but overall we are seeing good momentum,” Ms. Jones said.
Lady Gaga’s upcoming performances are also expected to send consumers on a spending spree.
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