Stone roses bag $26 million from homecoming shows

Reunited rockers the STONE ROSES made $26.4 million (£16.5 million) from their three record-breaking homecoming concerts in Manchester, England over the weekend (29Jun12-01Jul12).

The Fools Gold hitmakers reformed in May (12) after 16 years apart, and following a series of warm-up gigs across Europe, they returned to their native Manchester at the weekend to play for 240,000 fans. The triumphant concerts earned the band $20 million (£12.5 million) in ticket sales, and they bagged a further $6.4 million (£4 million) from merchandise, according to an economics expert. Dr Alexander Roy, of U.K. think tank New Economy, calculates the three-day event was worth $36.8 million (£23 million) to Manchester. He tells the Manchester Evening News, "We don't know how long the second coming of the Stone Roses will last, but these gigs are providing a boost to the economy that Manchester has been waiting for. They have generated an estimated £23 million over three days, and showcased Manchester music to a new generation."

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