Just a few weeks ago, international pop star Madonna announced she’ll be dropping by the country as part of her Rebel Heart tour leg in Asia, promising fans to deliver an ecstatic performance in the country. While Madonna’s concert is still several months away, the promoters projected that the demand for the show will be overwhelming. Unfortunately for the fanatics, watching the Queen of Pop up close and personal will require the most die-hard fans to shell out thousands of pesos. Are you willing to spend a fortune just to get this once-in-a-lifetime experience to experience Madonna is the best way possible?
The price to pay
At 56, Madonna proves that she is still one of the highly anticipated performing artists even with the rise of newer and younger pop acts. While Madonna can be considered a veteran in the music industry, she still has the power to bill a huge amount of talent fee just to grace the stage with her presence.
According to reports, it takes a hefty amount of conditions before a concert promoter can even make Madonna agree to visit a certain country. First, it is reported that the Queen of Pop’s talent fee for her Philippine concert is a whopping amount of USD 4 million, or roughly around PHP 180 million. This includes the talent fee of the singer and her entire entourage, including production crew, dancers, and live band.
While Madonna is already asking for a ridiculous talent fee, the fee doesn’t yet include the hotel and accommodation for Madonna’s entire crew. Unfortunately, the concert organizers have to shoulder these expenses—and make sure that they’re getting nothing but the best accommodation for the veteran pop star.
Production cost is also excluded from the fee. For Madonna’s concert here in the Philippines, she is slated to perform a two-day concert at the Mall of Asia Arena, a 16,000-seat capacity events venue beside the SM Mall of Asia. While the owners of the Mall of Asia Arena do not charge a specific amount for renting the facility; instead, they are entitled to a percentage of the total ticket sales.
When you factor in everything—the costs of everything to make Madonna’s concert here in the Philippines possible—you may think that it will take a fortune to see Madonna here. Unfortunately, you’re right. The price of tickets are as follows:
While the tickets are still on presale, some die-hard fans who have the money to pay for the best seats have already purchased the VIP tickets, which almost cost PHP 60,000. Some of them even flaunted their tickets to the official Facebook page of Madonna’s fans in the Philippines. For fans, it is justifiable to spend a lot of money just to see their favorite acts live. However, there are far betters ways you can use your money instead of going to a two-hour concert.
Better ways to spend your money
PHP 57,750 is a lot of money. In fact, it is almost twice the monthly wage of some middle-class families. While you may spend something as hefty as this amount to Madonna’s concert, here are better ways you can use your money for your financial growth:
Create an emergency fund
Having an emergency fund is a must for all households, especially that there are scenarios that can go out of hand. Emergencies, sudden retrenchment, accidents, necessary expenses—all of these can and will arise when you least expect them. Ideally, having at least 2-3 months’ worth of expenses can provide enough financial safety net for you and your family.
Start a time deposit account
Time deposit accounts are dreaded by some people because it is a low-risk, low-yield investment—and for good reason. While time deposit accounts won’t give you a big return for putting your money in the bank, they can be a good deterrent for you to put your money somewhere safe and then invest in when you’ve found the right investment vehicle.
Play the stock market game
Investing in stock market will not make you into an expert overnight, but entering the game will definitely provide you with the knowhow of how the industry works. Stock market trading is also a good way to diversify your portfolio and hedge your investments. By putting some of your money in the stock market, you can watch it grow as the value of the company you are invested in grows too.
Let’s face it: there is nothing wrong with buying the most expensive tickets for Madonna’s concert, especially if you have the money to do so. However, if you don’t feel like she’s not worth PHP57,000, put your money somewhere it can grow instead.