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  • "The Business of Festivals"

  • From the mud of Glastonbury to the blockbusting headliners of Coachella,

  • music festivals have become big business.

  • Annually, there are around 800 festivals in the US alone.

  • It's an industry worth nearly $10 billion,

  • attracting 32 million revellers annually,

  • half of whom are millennials.

  • Tickets average 200 pounds per head in the UK, but over the past 10 years,

  • ticket prices have risen way above the rate of inflation.

  • More than $1.5 billion was spent by companies sponsoring events in 2014.

  • The live music industry is booming as traditional record sales flounder.

  • Artists can command up to 90% of gross ticket receipts,

  • but bag only 10% of the net profit from recorded music.

  • Musicians can charge big bucks.

  • Acts such as The Flaming Lips and Damian Marley

  • can earn up to a reported 90,000 pounds for a performance.

  • Whereas bigger names such as Justin Bieber or Madonna

  • can charge up to a cool million.

"The Business of Festivals"

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The economics behind music festivals

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    Crystal Wu posted on 2017/08/23
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