How music festivals make money

Why are so many festivals popping up? Because music festivals are big business. Coachella is the most profitable festival in the U.S. Last year it sold 158,000 tickets and pulled in $47.3 million in revenue, according to Billboard Boxscore. That’s up from $17 million in 2007. Tickets for the 2013 festival sold out in 20 minutes. Goldenvoice, which produces the festival, expanded it to two weekends last year, a move that was scoffed at, but is now being replicated by other events. Sasquatch has announced plans to expand to two weekends for 2014 after a “highly successful” 2013 edition, which sold out in a record 90 minutes, according to promoters. Bonnaroo also sold out with regular tickets ranging from $224 to $269, and a pair of VIP tickets — which include parking and camping perks, exclusive lounges and viewing areas — going for $1449.50. According to Bonnaroo representatives, the festival has no plans to expand just yet.

via How music festivals make money – Fortune Features.

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Mike Dias is a Sales Director for Logitech. He specializes in consumer electronics & pro audio with an expertise in headphones & portable audio. He has over 15 years of experience selling custom handcrafted in-ear monitors.

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