Revealed: How much Ozzy's last gig pumped into West Midlands economy
A new report found that that Black Sabbath's Villa Park concert contributed a total of £33.8 million to the UK economy.
Analysis carried out by the University of Birmingham found that of that sum £27.6m in gross economic output was retained in the West Midlands.
Osbourne, also known as the Prince of Darkness, died aged 76, on July 22 barely two weeks after performing his homecoming Back to the Beginning concert at Aston Villa in the shadow of his childhood home.
Researchers said in addition to his musical and cultural legacy, he has left a significant economic impact on his hometown and region.
Dr Matt Lyons, who conducted the analysis, said: “Ozzy was a proud Brummie and his legacy can be seen across the city. When you step off a train at New Street station, you are greeted by Ozzy the Bull, named for the legend himself after 2,000 names were put forward. Black Sabbath and Ozzy are credited as inventing the heavy metal genre when they started out playing in The Crown Pub on Station Street in Birmingham.
“As regional economists from the University of Birmingham, we thought we would do our bit to honour Ozzy’s legacy by estimating the economic impact of his last gig.The benefit concert, which took place at Villa Park on July 5 sold out 42,000 tickets in minutes, 20 per cent of tickets were purchased by international fans, with prices ranging from £197.50 to £834.
"To estimate the economic impact of the concert, the researchers used the SEIM-UK (Socio-Economic Impact Model for the UK) model, a methodology used previously for estimating the impact of mega events such as the Birmingham Commonwealth Games in 2022. Considering ticket sales, estimates of inward tourism spending on hotels, transport, food and other discretionary spending, the researchers arrive at direct spending of £21m, close to other published figures.The SEIM-UK goes beyond the direct impact of spending associated with an event, also capturing the indirect and induced (supply-chain and wage uplift) impacts that are related to the initial spending shock.
"The analysis showed that including the additional areas of indirect and included impacts resulted in Ozzy’s Back to the Beginning concert contributing £33.8m in gross economic output across the UK, £27.6m of which specifically impacted the West Midlands.This analysis did not include £140m raised for the charities Cure Parkinson's, Birmingham Children’s Hospital, and Acorn Children’s Hospice through shares of livestreams and merchandise sales."
Dr Lyons added: “The impact of the Prince of Darkness obviously goes far beyond the financial impact his gigs and TV shows have netted. Ozzy was always an ambassador of Birmingham and in passing becomes a symbol of the city’s working class resilience, creativity and ability to reinvent itself.
"The naming of Black Sabbath Bridge and Ozzy the Bull shows the civic embrace of Ozzy that transcends fandom of metal music. Ozzy is a global legend and his gift of incredible music, and now his final economic impact will go on to benefit his home city far into the future.”
The BBC dropped plans to air a new Osbourne Family documentary on Monday(18).
