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The Indicator from Planet Money

The year the music festival died

The Indicator from Planet Money

NPR

Business

4.79.5K Ratings

🗓️ 8 October 2024

⏱️ 11 minutes

🧾️ Download transcript

Summary

Is 2024 the year the music festival died? Festivals are getting canceled left and right, from Northern California to Florida to Virginia.

Big name festivals that used to sell out in minutes struggled to sell tickets this year, too, like Burning Man and Coachella.

And it's not just America. By one count, over 60 music festivals were canceled in the UK this year alone. In Australia, so many festivals were canceled that one newspaper there recently asked, are the nation's music festivals extinct?

Today on the show, the music festival recession. What's behind it and is it temporary or a permanent cultural shift?

Related Episodes:
Live Music Industry Blues
The Economics of Music Festivals

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Transcript

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0:00.0

NPR. Is 2024 the year the year the music festival died?

0:16.0

Sierra Nevada World Music Festival in Northern California,

0:20.0

kickoff jam, a country music festival in Florida,

0:23.2

Blue Ridge Rock Festival in Virginia.

0:25.6

The list of recent cancellations just goes on and on.

0:29.6

Even big name festivals that used to sell out in minutes struggled to sell tickets this year.

0:34.8

Burning Man fell to sell out for the first time in over a decade, Kachella, the most attended

0:40.1

annual music festival in North America, saw a decline of around 15% in ticket sales.

0:46.0

And it's not just America. By one count, over 60 music festivals were cancelled in the UK this year alone. In Australia, so many festivals were

0:55.0

canceled this year alone.

0:56.0

That one newspaper there recently asked,

0:58.0

are the nation's music festivals extinct?

1:01.0

This is the indicator for Planet Money. I'm Greg Rizzalski.

1:04.6

And I'm Whelan Wong. Today on the show The Music Festival recession.

1:09.1

What's behind it? And is it temporary or a permanent cultural shift.

1:16.0

This message comes from the Center for U.S. Voters Abroad Foundation.

1:20.0

If you're a U.S. citizen living abroad,

1:22.0

the Center for U.S US Voters Abroad Turnout Project's

1:25.2

online form will walk you through requesting your ballot in just five minutes.

1:29.5

Visit International Voter.

1:37.2

This message comes from Wise, the app for doing things in other currencies. Send, spend or receive money internationally and always get the real-time

1:41.1

mid-market exchange rate with no hidden fees.

...

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