In conjunction with this, further research shows that it is the economic and the social impacts of an event that are the main factors when considering value and deciding how much an event matters to the event industry. Evidence to this shows that events have shown to have “positive results showing the creation of new employment opportunities to increase livelihoods of residents” (Bowdin et al., 2008:830). It has also been shown that events would often create opportunities such as “community building and social strengthen” (Bowdin et al., 2008:830).

When considering the value and importance of the event to the industry, the Ed Sheeran concert would have also created a financial impact as they would have needed to hire contractors/ suppliers which would also have had a significant economic impact on local businesses as their visitor spend would have increased due to the large numbers attending the concert. It would’ve also had a large social impact as it brought community together, created jobs and possibly allowed volunteers to gain experiences. Furthermore, due to the popularity of the event, attendee numbers were high as the concert was sold out in not just Cardiff, but all other venues across the UK where the event was also held. This, therefore, created press around the concert, bringing attention to the town and the UK.

Another way to prove value of this type of event is by looking into its statistics. According to Mintel, the amount of people going to concerts in the UK has lowered since 2017’s figures. However, it is agreeable that the reasoning behind this is mainly expense as 69% of people in 2018 said they found concert tickets too expensive. Another factor is that 57% worry about losing their bank card/ money at the event. Despite all this, concerts still remain popular in the events industry as Mintel tells us that in 2018 1/3 of Br