How Music Festivals Became Such a Big Business | Time - Deepstash
How Music Festivals Became Such a Big Business | Time

How Music Festivals Became Such a Big Business | Time

Curated from: time.com

Ideas, facts & insights covering these topics:

5 ideas

¡

854 reads

2

Explore the World's Best Ideas

Join today and uncover 100+ curated journeys from 50+ topics. Unlock access to our mobile app with extensive features.

Music Festivals

Music Festivals

In the last 10 odd years, music festivals have grown into a massive juggernaut. There are big-ticket events with matching prices and an endless stream of world-class performers.

Origins:

Music Festivals date back to ancient Greece, while modern ones became popularized in 1969 with the Woodstock. Music Festivals gained massive popularity since then, being extremely attractive to sponsors and attended by more than 32 million people, earning millions of dollars.

24

245 reads

Experiential Economy

People, especially those who are tired of accumulating stuff, are now more likely to spend money on experiences. Music festivals provide such an experience, making big brands lineup for the same.

Millennials, who make up about 15 million of the attendees per year, find spending on experiences(like travel) a better deal than buying stuff.

17

237 reads

The Real Experience

Streaming services like Apple Music and Spotify have changed how music is consumed, with sales of physical media now a thing of the past. Live music is the only form of ‘real’ experience, and fans love to spend to experience their favourite artists in the flesh.

18

141 reads

Commercial Viability

Artists see music festivals as a better and easier way of making money, as opposed to record sales(not happening now) or long tours that are done at their own expense.

Music Festivals are now big business and many big companies like Live Nation and AEG Live strengthen the festivals with their organizational capacity and professionalism. Promotions like a ‘Festival Passport’ allowing access to over 100 festivals are lucrative and popular.

16

109 reads

Mainstream Or Low-Key

Many 'niche' music festivals are not meant to be mainstream and are showcased as a cultural community event, focussed on bringing like-minded people together. The booming trend is of course towards the big festivals with a huge lineup of rockstars, ensuring millions of attendees and big bucks.

17

122 reads

IDEAS CURATED BY

verra_

"Many people are in the dark when it comes to money, and I'm going to turn on the lights. " ~ Suze Orman

Vera 's ideas are part of this journey:

Top 7 TED Talks On Customer Success

Learn more about music with this collection

How to create customer-centric strategies

The importance of empathy in customer success

The impact of customer success on business growth

Related collections

Read & Learn

20x Faster

without
deepstash

with
deepstash

with

deepstash

Personalized microlearning

—

100+ Learning Journeys

—

Access to 200,000+ ideas

—

Access to the mobile app

—

Unlimited idea saving

—

—

Unlimited history

—

—

Unlimited listening to ideas

—

—

Downloading & offline access

—

—

Supercharge your mind with one idea per day

Enter your email and spend 1 minute every day to learn something new.

Email

I agree to receive email updates