music festivals shake their money maker for uk economy
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Music festivals shake their money maker for UK economy

Arab Today, arab today

Arab Today, arab today Music festivals shake their money maker for UK economy

Music fans at the 2014 Glastonbury Festival
London - AFP

Music festivals like Glastonbury sometimes leave the British countryside strewn with discarded tents and beer cans for days after -- but they're big money-spinners for the nation's economy, generating billions from revellers following the world's biggest bands.

Fans from both Britain and abroad are drawn by events that have been running for several decades -- such as the Isle of Wight festival and Glastonbury, which kicks off Wednesday -- plus newer boutique gatherings with smaller crowds and bands, like Wales's Green Man.

Some 9.5 million people attended British festivals and concerts in 2014, generating over £3.0 billion (4.2 billion euros, $4.8 billion), according to figures released by the industry-backed promotional group UK Music last week.

Nearly 550,000 music tourists came from abroad -- up 39 percent since 2011.
"Bands playing in muddy fields and concert halls around the UK have not only been adding to happiness and wellbeing, but have been driving wealth into recovering local economies across the whole of the UK," said the study.

Culture minister John Whittingdale called the findings "fantastic" but said he was not surprised as festivals like Glastonbury "hold an iconic status on the world music scene".

Jo Dipple, UK Music's chief executive, added: "The UK's rich music heritage and infrastructure has made the UK the go-to destination for live music globally and these statistics show how tourism is now a bedrock of British music and the wider economy."

In southwest England, where Glastonbury has been held since 1970 at Worthy Farm in Somerset, music tourism generated £297 million last year, including £221 million from festivals. Glastonbury is thought to account for around a third of this.

- Future of the music industry? -

While it generates significant revenues, Glastonbury is also one of the most expensive festivals in the world to attend, according to No1 Currency, a foreign exchange currency service.
Admission is £225 but the average total spend is £565, making it the second most expensive in the world behind Roskilde in Denmark.

Music festivals aren't just big business in Europe. The United States is also home to a growing festival scene, with California's Coachella, among the biggest, drawing 175,000 fans in April. The festival had a turnover of $78 million in 2014.

At a global level, San Francisco-based online marketplace Eventbrite handled ticket sales for 50,000 music and other festivals around the world last year, a 50 percent increase in 12 months.

With many musicians struggling to make as much money as they used to due to the digital transformation of the industry and the advent of streaming, some suggest festivals could be an economic lifeline for them, as well as benefitting host countries.

"I think music festivals are basically the future of the industry. It's the only area where you are really seeing a lot of growth," said Parag Bhandari, the head of UG Strategies which recently launched the Uphoric digital television network dedicated to covering the global festival circuit.

"It's really the last area in the music industry where there is real money to be made for artists."

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

music festivals shake their money maker for uk economy music festivals shake their money maker for uk economy

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

music festivals shake their money maker for uk economy music festivals shake their money maker for uk economy

 



GMT 10:06 2012 Saturday ,28 July

Querrey advances at ATP LA Open

GMT 21:15 2017 Thursday ,01 June

Trump condemns deadly Kabul explosion

GMT 02:15 2017 Thursday ,24 August

Is your country on the Qatar free entry list of 80?

GMT 19:48 2016 Monday ,03 October

Controversial boxing champ Tyson Fury retires

GMT 08:20 2015 Tuesday ,08 December

PC market woes show no sign of easing

GMT 17:27 2017 Tuesday ,25 April

20 Yemeni soldiers killed, injured in explosion

GMT 11:52 2017 Saturday ,30 December

OIC condemns Mar Mina Church attack

GMT 00:03 2017 Saturday ,25 March

Arab Meeting to Examine Anti-Corruption Methods

GMT 13:12 2017 Thursday ,20 April

Deputy premier meets Arab League chief

GMT 14:13 2014 Friday ,10 January

Opel Astra GTC

GMT 18:27 2016 Tuesday ,02 August

Turkish Foreign Minister arrives in Islamabad

GMT 11:27 2016 Tuesday ,13 December

Saudi woman arrested for challenging social norms
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday