Economics
America’s Music Festivals Could Use a Boost, With or Without U2
- Too many music festivals, too few top ticket-selling acts
- Beyonce’s April show at Coachella is certain to make money
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As the musical duo Big Grams took the stage at the Bonnaroo Music & Arts Festival last June, Antwan Patton, better known as rapper Big Boi, looked out at the crowd in Manchester Park, Tennessee, and saw an audience that had shrunk by half from his previous appearance.
Bonnaroo, named best festival by rock bible Rolling Stone magazine in 2008, has earned a reputation as one of the most successful and innovative music events in the country. Yet ticket sales fell to an all-time low in 2016 -- a 46 percent drop from 2011 -- and the festival lost several million dollars, according to people familiar with the finances who asked not to be identified.