The illuminated wristbands contain LEDs and are controlled by a wireless signal during Coldplay's stadium shows. They are also shown in the video to the band's recent single 'Charlie Brown'.
Speaking to Bauer Radio, guitarist Jonny Buckland said: "Every night, I think it's about £400,000! It looks amazing, it just makes everyone have a great time - most of all us - and it just feels so magical! So we're just immensely grateful for them.
"Even if you don't like our music now, I would say come to the show just to see that – wear earplugs, bring a book and when the lights come on, have a look!"
Buckland also revealed that Jason Regler, who invented the Xylobands, pitched them to the band's associate and former manager Phil Harvey after watching Coldplay's performance at Glastonbury Festival.
The full interview with Coldplay and an exclusive recording of their gig at Sunderland's Stadium of Light will be aired tonight (Thursday, June 14) from 8pm across 20 Bauer Radio stations in the UK. Visit www.coldplayindemand.com for more information.
Watch video footage of the Xylobands in action at a Coldplay show below: