Tuesday, July 24, 2007

The economics of a folk festival

Folk festivals spin off profit for both artists and venues -- Vancouver Sun, 7/13/07: "Though Canadian folk festivals are grassroots affairs where lots of patrons reflect the ideals of the 1960s, they nevertheless generate big dollars.

The Edmonton Folk Festival, largest in Western Canada, attracts 85,000 people for a box office of $1.4 million. It has sold out all its tickets in 11 of the last 13 years. The smaller Winnipeg Folk Festival draws 60,000, but 40 per cent of the audience comes from the United States, resulting in an economic spinoff to the area of about $20 million.

The three-day Vancouver Folk Music Festival, which begins today, attracts people from all over B.C. and the U.S. (Americans make up 30 per cent of the audience), and even some from Europe and Australia. Smaller than events in Edmonton, Winnipeg and Calgary, last year's Vancouver festival operated on a budget of $1.2 million, attracted 30,000 people and took in $551,000 at the box office.
Dancing at the Vancouver Folk Music Festival
Dancing at the Vancouver Folk Music Festival
Peter Battistoni/Vancouver Sun

One lucrative side business at folk festivals is on-site CD sales. Festival patrons prefer buying recordings directly from the artist or the artist's label on-site because more of their money goes to the music's creator. These sales won't show up on SoundScan or Billboard, but they nevertheless add up. At last summer's 17 western Canadian folk festivals -- which include events in Vancouver, Victoria, Salmon Arm, Duncan, Comox, Mission and Harrison Hot Springs -- CD sales amounted to $754,594.

At the 2001 Edmonton festival, the Waifs from Australia sold 1,000 CDs in a single weekend, a figure matched by Xavier Rudd one year at the Calgary Folk Festival.

CD sales at last year's Vancouver Folk Festival totalled about 15,000. A top artist can sell as many as 700 CDs in a single weekend at the Vancouver festival....

VANCOUVER FOLK FESTIVAL

Attendance: 30,000

Box office: $551,000

CALGARY FOLK FESTIVAL

Attendance: 48,000

Box office: just under $1 million

EDMONTON FOLK FESTIVAL

Attendance: 85,000

Box office: $1.4 million

Winnipeg Folk Festival

Attendance: 60,000

Box office: $1.3 million

No comments: