Earlier this week, Insomniac Events announced that their flagship Electric Daisy Carnival Las Vegas has generated nearly $1 billion since 2011 for Clark County. The exact figure is a staggering $959 million. Last year alone, the three-day mega festival produced an estimated $377.8 million. From all fifty states and around the world, EDC festival-goers or headliners boosted more than $250 million through their spending alone. Insomniac spending totaled more than $81 million, not including the cost of the talent. In regards to the economic report, Insomniac Founder and CEO Pasquale Rotella said,
I’m so excited that a culture that started out years ago, with such humble beginnings, has evolved into a festival capable of generating nearly $1 billion for Las Vegas and the surrounding areas. It’s really moving when I think about it, and I’m grateful that our fans love a city that I hold so close to my heart and now call home.
We here at Dance Music Northwest are amazed but not surprised by the economic impact of EDC LV. The rising popularity of music festivals over the years has made them huge cash cows for their host cities. Take a look at Ultra Music Festival. Despite all the controversy behind Ultra, city officials have continued to support the festival taking place in Miami due to the large economic benefits it draws.
With data compiled by the research firm Beacon Economics, Insomniac released an interesting infographic to break down exactly where all those daisy dollars went.
The 19th annual EDC LV 2015 has been officially announced for June 19-21, with tickets going on sale on December 1 at noon. If EDC isn’t in your budget this year, try your luck at EDC and 7-Up’s Live It UP Sweepstakes for a chance to win a pair of VIP tickets, airfare, accommodations and more. We’ll see you under the electric sky!
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