Coldplay have invested in a flashing wristband business.

The ‘Fix You’ rockers – made up of Chris Martin, Guy Berryman, Johnny Buckland and Will Champion – have teamed up with electronics firm RB Concepts after seeing the spectacular results of using the wristbands to increase audience participation.

The band were the first people to use the gadget, at their American Express Unstaged gig in Madrid last week, which saw an estimated 19 million people watch live and online.

RB Concepts boss Clive told The Sun newspaper: “It is huge to be working with Coldplay. The next move would be to have the wristbands at sporting events and night time events. The big thing is audience participation, this means bands can relate more to the audience.

“We are looking towards using it at the London Olympics in 2012.”

The Madrid concert – which was held at the Plaza de Toros de Las Ventas – kicked off Coldplay’s European tour and saw them perform a set which showcased songs from new album ‘Mylo Xyloto’ as well as their extensive back catalogue.

The band are also celebrating after making iTunes chart history, with ‘Mylo Xyloto’ setting the record for the highest first week album sales ever on the music downloading service’s worldwide stores.