Music festivals are definitely a big business, but nowhere are they bigger than as they‘re in the United States. Of all the big events in the world, the top five moneymakers are in America. In a recent analysis and report, Forbes broke down the revenue generated by the top 5 music festivals in the United States, and surprisingly the music festival market in America last year generated $183 million in sales, making it possibly the largest festival market in the world.
What’s even more astonishing is that there was no mention of SFX’s TomorrowWorld, Insomniac’s Electric Daisy Carnival, or Ultra Music Festival in the Forbes list which seems to be a possible oversight, especially when you consider the ticket price and attendance of the three barrage EDM festivals. According to Forbes, Stagecoach, Outside Lands, Lollapalooza, Austin City Limits, and Coachella are at the top of the festival stack when it comes to revenue generated directly through tickets sales.
Stagecoach, Goldenvoice’s country music festival held on the Indio Polo Grounds, saw $18.5 million sales in 2014, while Outside Lands and Lollapalooza reported $19 million and $29 million respectively. The second spot is held by Austin City Limits, owned by C3 Presents, with $38 million in sales last year alone. Topping them unsurprisingly is the Goldenvoice behemoth, Coachella, whose two weekend strategy straightaway netted the promoter $78 million.
Source: Forbes/New Directory
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