Promoter-investor: Eraserheads concert cost P275M to mount

The Eraserheads' Huling El Bimbo concert on 22 December at the SMDC Festival Grounds in Parañaque was a P275-million production — almost at par with that of an international superstar act.

"In US dollars that's almost $5 million, which is like producing Justin Bieber in Manila," a concert promoter told Daily Tribune.

Ely Buendia's talent fee is more than that of the band's three other members (Raymund Marasigan, Buddy Zabala, and Marcus Adoro), the promoter said — adding he plunked in several million pesos as investor in the concert, along with Alden Richards and several others, upon the invitation of the show's main organizer, Francis Lumen.

He's not sure yet if the concert made money, the promoter said.

A netizen's rough computation of the concert's gross ticket sales, based on published prices, multiplied by 50,000 (the announced number of tickets printed), amounted to about P425 million. If accurate, that's a lot more than the concert's claimed production cost.

But more tickets were sold, and by the concert's end, 75,000 people have watched it, a member of the production staff told Daily Tribune.

Factor in the numerous sponsors — especially the presentors whose contracts involved cash — and it's safe to say the show was financially successful.

Buendia and members of the concert's production team have posted on Facebook teaser announcements of a world tour, specifically in the United States, Canada, and Singapore.