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