By Dan Ruby
So as we head towards high festival season, we can already mark down 2008 as a year of frenetic festival launches. Whether it also pans out as a year of boffo festival attendance remains to be seen.
The launch activity certainly suggests that major producers think the market remains ripe for development. And there are reasons that the festival business might continue to do well this year despite an economic downturn.
Even with rising ticket and travel costs, festival attendance remains an affordable luxury when bigger ticket items are being trimmed. The fundamental draw of festivals--participating in a live community event--will continue to attract festival patrons seeking opportunities to have a memorable live experience.
My best guess is that total festival attendance will match the industry performance in recent years, but that there won't be the big growth spurt that the production companies seem to be expecting.
Most attendees will substitute attendance at one festival to take a chance on one of the new ones, although some will gladly add one or more new ones to their schedule.
We're still waiting for news about Mile High and possibly others for 2008. The bigger question is how the industry will fair this year and how that could affect each of the new events in 2009 and beyond.
Part 1 | Part 2 | Part 3 | Part 4
Wednesday, March 12, 2008
Part 4: Festival Economics
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