Why stars are choosing stadiums over arenas: From Beyoncé to Harry Styles

In 2022, Wembley, the UK’s largest stadium, hosted as many gigs as it did football matches.

There were 16 sold out concerts from the likes of Coldplay and Ed Sheeran and 1.3 million tickets purchased.

Demand is so great for Beyoncé’s 2023 tour that Tottenham Hotspur has breached its licence by adding an extra tour date at its stadium.

They now have to submit a planning application to Haringey Council to ensure the show can go ahead.

Pioneered by the Beatles in 1965, stadium tours have previously been the reserve of pop’s biggest stars: Michael Jackson, Madonna, Eminem – but recently, they’ve been overtaking arenas as the number one choice for big tours in the UK.

‘A big gamble’

“Why are artists choosing us? It’s a scale thing,” says Steve Davidson, chief operating officer at Sunderland AFC.

“The cost of putting on these big worldwide tours is enormous, so they [artists] have to sell out bigger venues in order to make it pay,” he adds.

Mr Davidson says the Stadium of Light can hold 60,000 people at a typical concert, which has helped attract artists like Beyoncé and Pink to the north-east of England this summer.

Beyonce performing in Dubai
Beyonce hasn’t toured in the UK since 2018

“We’ve got space and we’re in the city centre. That’s attractive to [concert] promoters,” Mr Davidson says.

He also notes that artists are putting more effort into staging and production, which on a basic level means travelling with lots and lots of trucks.

“Some artists are coming with 90 HGV trucks – we’ve got space to host them all,” he adds.

Beyoncé fans have been predicting online that her Renaissance World Tour stage could be an estimated 174ft (53m) wide and 84ft long, excluding its runway and additional smaller stage.

Compare this with her last arena tour in 2013, when the main stage was less than half the size of her predicted stadium one – 76ft by 49ft.

So not only would an arena not have enough room to accommodate all those trucks, the stage would also be too big too.

“They have to go from one venue to another and be in and out really quickly – that saves them money,” Steve adds.

But with bigger tours, comes bigger risks, says Wembley’s stadium director Liam Boylan.

“There’s a lot of pressure,” he tells the BBC. “It’s a big gamble for promoters because everything’s bigger: More trucks, more crew, more equipment.”

Promoters are responsible for organising live events and making sure tickets sell. They have to weigh up whether the interest in a particular artist is high enough to fill the seats.

“Promoters will say ‘I’m going to guarantee you so much money’, but if a show doesn’t sell, they’re liable,” Mr Boylan adds.

‘Demand is huge’

 

Continue reading “Why stars are choosing stadiums over arenas: From Beyoncé to Harry Styles”

Incred Financial Services Limited NCD (Incred Financial Services October 2023 NCD) Detail

Incred Financial Services Limited Logo

Incorporated in 1995, InCred Financial Services Limited is engaged in the financial services business. The company is registered with SEBI as a non-deposit-taking systemically important NBFC (Non-Banking Financial Company).

The company offers its services to lower middle-class to middle-class Indian households and resolves their need for personal finance in the form of education and personal loans. Alongside, InCred Financial Services also offers secured and unsecured business loans. Their customers include small businesses, secured loans to K12 Indian schools for their expansion plans, supply chain financing, lending to profitable financial Institutions and microfinance companies, and escrow-backed lending through its SME vertical.

In 2022, the earlier company known as KKR India Financial Services Limited was merged and emerged as InCred Financial Services Limited.

The products of InCred Financial Services Limited can be categorized as

  1. Consumer Loans
  2. Education Loans
  3. MSME Loans

The company further divides the products and services as – Personal Loans, Student Loans, Secured School Financing, Anchor and escrow Backed Business Loans, Structured Lending, and Lending to FIs.

Incred Financial Services October 2023 NCD Detail

Issue Open October 25, 2023 – November 7, 2023
Security Name Incred Financial Services Limited
Security Type Secured, Redeemable, Non-Convertible Debentures (Secured NCDs)
Issue Size (Base) Rs 150.00 Crores
Issue Size (Shelf) Rs 300.00 Crores
Issue Price Rs 1000 per NCD
Face Value Rs 1000 each NCD
Minimum Lot size 10 NCD
Market Lot 1 NCD
Listing At BSE
Credit Rating CRISIL A+/Stable by CRISIL Ratings Limited.
Tenor 18, 24 and 36 months
Series Series I to V
Payment Frequency Monthly, Quarterly and Annually
Basis of Allotment First Come First Serve Basis
Debenture Trustee/s Catalyst Trusteeship Limited

NCD Allocation Ratio

Category ? NCD’s Allocated
Institutional 5%
Non-Institutional 10%
HNI 40%
Retail 45%

NCD’s Offered by Category

Category ? NCD’s Reserved
Institutional 75,000
Non-Institutional 150,000
HNI 600,000
Retail 675,000
Total NCD’s 1,500,000

Incred Financial Services Limited NCD Coupon Rates

# Series 1 Series 2 Series 3 Series 4 Series 5
Frequency of Interest Payment Monthly Quarterly Monthly Annual Monthly
Nature Secured Secured Secured Secured Secured
Tenor 18 Months 24 Months 24 Months 36 Months 36 Months
Coupon (% per Annum) 9.48% 9.55% 9.66% 10.30% 9.84%
Effective Yield (% per Annum) 9.88% 9.88% 10.08% 10.28% 10.29%
Amount on Maturity (In Rs.) Rs 1,000.00 Rs 1,000.00 Rs 1,000.00 Rs 1,000.00 Rs 1,000.00

NCD Rating

The NCDs proposed to be issued have been rated ‘CRISIL A+/Stable’ by CRISIL Ratings Limited.

Company Promoters

InCred Holdings Limited (erstwhile known as KKR Capital Markets India Limited), and Bhupinder Singh are the promoters of the company.

Company Financials

Incred Financial Services Limited Financial Information (Restated Consolidated)

Incred Financial Services Limited’s revenue increased by 67.37% and profit after tax (PAT) rose by 234.79% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended 31 Mar 2023 31 Mar 2022 31 Mar 2021
Assets 6,608.39 4,034.65 2,804.53
Revenue 877.45 524.27 392.48
Profit After Tax 120.92 36.12 10.23
Net Worth
Reserves and Surplus
Total Borrowing
Amount in ₹ Crore

Objects of the Issue

The company proposes to utilize the funds which are being raised through the Issue:

  1. For the purpose of onward lending, financing, and for repayment of interest and principal of existing borrowings of the Company – 75% of the amount raised and allotted in the Issue.
  2. General Corporate Purposes – 25% of the amount raised and allotted in the Issue.

Flag hoisting event at new Parliament building on Vishwakarma Puja ahead of special session

The flag hoisting will take place at the Gaj Dwar, one of the three ceremonial entrances of the new building on September 17. The day coincides with the Vishwakarma Puja and Prime Minister Narendra Modi’s birthday.

Flag hoisting event at new Parliament building on Vishwakarma Puja ahead of special session

New Delhi: A day ahead of the special session of Parliament, a ceremonial flag hoisting will take place at the new building on September 17. The day coincides with the Vishwakarma Puja and Prime Minister Narendra Modi’s birthday.

According to sources, the upcoming special session, slated to take place from September 18 to 22, will commence in the old building before relocating to the recently inaugurated New Parliament building. This will be the first session to be held within the premises of the New Parliament, which was officially unveiled by the Prime Minister on May 28.

The flag hoisting will take place at the Gaj Dwar, one of the three ceremonial entrances of the new building.

According to a report by the Indian Express, on Tuesday, the Central Public Works Department, responsible for the construction of the new building, initiated arrangements for a ‘national flag-raising event’. They initiated this process by issuing a tender for the procurement of a public address system.

The flag hoisting will done by Rajya Sabha chairman and Lok Sabha Speaker Om Birla. Prime Minister Narendra Modi is also expected to be present during the function.

As the session approaches, senior officials from both the Union Housing and Urban Affairs Ministry and the CPWD visited the new building on Tuesday. During these visits, they conducted final inspections to ensure optimal audio levels in the Rajya Sabha and tested the multimedia systems used by Members of Parliament, as reported by an official.

Continue reading “Flag hoisting event at new Parliament building on Vishwakarma Puja ahead of special session”

A Monkey Plays Mind Pong With Neuralink

A video demonstration shared by Mr Musk shows a nine-year-old macaque monkey called Pager with a Neuralink inserted on each side of his brain.

The two chips, implanted flush with the skull, send brain signals from the monkey through a 1,024 electrode transmission device termed the N1 Link. This neural activity is then decoded and calibrated in order to predict the monkey’s intentions.

Continue reading “A Monkey Plays Mind Pong With Neuralink”