People all over the world enjoy music festivals, but does the promoter get profit from the low-priced tickets? (Image via Talking Bull)

Music Festival Promoters Waited for Years to Get Profit

Toska Dhia Andana
Sports & Culture
Events & Festivals
Jul 02, 2019
2298
In a year, there is a possibility that about tens of music festivals held—big or small. People would go there for sure, especially if their favorite artists perform in the festival. Music festival’s ticket is considered cheap, if we compare it to solo concerts. Of course, sponsorship plays a big role in pressing the ticket price. However, do they make a huge profit?

There are people who turned to be a music festival promoter because they are music enthusiasts. Although they do not have background in music (having worked at a record label or ever worked under a concert promoter), they bravely went out to hold music festivals. However, the problem is, if one has never done business in the music industry, it will be hard for them to get profit. The reason is quite simple—they don’t have a name in the industry. For a record label that suddenly became a music promoter, it may be easier for them because they are quite known, so it’s easy to make brands sponsoring the music festival.

Jason Carter, a music festival promoter, shared his experience with Forbes. Before became a promoter, he was a marketing. His previous job could him because he could do marketing for his music festival as well, which probably can bring more money. However, it didn’t work like that. Jason revealed that he had to fund the festival with his own money to sell an affordable ticket because back then, he didn’t have many sponsors.

Jason shared that not getting any profit for a music festival is a common case, especially when the promoter has just begun the journey. Furthermore, when he asked promoters who have been in the game longer than him, they said that’s what happened to them during the first years. However, they said, if a music festival promoter can survive for five years, they will slowly able to get profit, little by little.

Starting a business is not easy, especially when one wants to become a music festival promoter. They will get profit at the end, but they need to be patient because it takes years to get there. Music festival is not a business where one can get a return in a short time, hence, if one is not that passionate in music, it will be stressing for them.

Source: https://www.forbes.com/sites/hughmcintyre/2016/09/16/how-one-music-festival-finally-made-a-profit-it-takes-years/

MusicFestival , Economy , Profit , Promoters