To estimate the economic impact of the concert, the researchers used the SEIM-UK economic model, a methodology used previously for estimating the impact of megaevents 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 £21 million, 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 £33.8 million in gross economic output across the UK, £27.6 million of which specifically impacted the West Midlands.
This analysis did not include £140 million 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 concluded: “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.”