Music festival ticket prices have experienced significant changes over the past decade, and some festivals have seen substantial increases. Let's dive into the findings from the FinanceBuzz study:
1. Overall Ticket Price Inflation:
- Daily general admission prices for major music festivals have risen by 55% since 2014.
- This increase is significantly higher than the actual rate of national inflation in the U.S., which is 32% over the same period.
2. Festival-Specific Changes:
- Ultra Miami has managed to keep its ticket price unchanged since 2014, maintaining a 0% inflation rate.
- Electric Forest Festival experienced the largest increase, with ticket prices nearly doubling (+97%) from 2014 to 2024.
3. Other Festivals:
- Suwanee Hulaween and Shaky Knees festival have both gone up 84%.
- Outside Lands (multi-genre) saw a 76% increase.
- Stagecoach (country-centric) has gone up 72%.
4. Comparisons from Inaugural Year:
- New Orleans Jazz & Heritage Festival (started in 1970):
- 1970: $3 entry fee
- 2024: $105 daily ticket
- Glastonbury (held in the U.K., started in 1970):
- 1970: £1 entry fee
- 2024: £71 daily ticket
- Coachella (started in 1999):
- 1999: $50 daily ticket
- 2024: $166 daily ticket
- Bonnaroo (started in 2002):
- 2002: $33 general admission ticket
- 2024: $109 general admission ticket
5. Methodology:
- Ticket prices were sourced directly from official festival websites for 2024.
- Historic prices were obtained from contemporary news articles published in each year.
- All calculations are based on the price of a general admission ticket for a single day of each festival.
In summary, festival ticket prices have seen varying degrees of inflation, and some festivals have managed to maintain stable prices while others have experienced significant increases.
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