While Georgia’s burgeoning film industry steals a lot of the state’s headlines, it’s not the only part of the entertainment industry making a mark in the Peach State. Music Festivals, increasing yearly in number and size, are also finding that Georgia is a lucrative place to do business, and even without some of the tax incentives gifted to Hollywood they’re having quite the positive impact on the local economy.
Music Midtown, the state’s most famous festival, began in 1994, (it had a 6 year break from 2005-2011 but is back in full force) and its attendance quickly boomed to over 300,000. Now taking place in Piedmont Park, it seems that the only thing capable of slowing down its momentum is the yearly battle against surrounding neighborhood associations unhappy with the stampede of concert-goers trampling the grass. With $100,000 spent on repairs and the same amount donated to the park’s conservancy fund though, there’s more than enough money to quiet the critics.
There’s a new show in town, though, one that’s aimed at attracting a more diverse crowd but is having great success nonetheless. Tomorrowworld, an electronic dance music (think techno music) festival that started in Belgium made its first appearance stateside in 2013 just outside Atlanta. The event draws visitors from over 75 countries and last year brought in an estimated $94 million worth of revenue. That number is a $9 million increase from the festival’s premiere in 2013, and is expected to continue to grow as the number of visitors swells from 2014’s 160,000 guests. The state directly made almost $5 million in taxes from the event, not to mention the money spent on travel, accommodation, and supplies.
The idea that music festivals can be big time money makers for the local economy is not an idea local to Georgia. In Austin, Texas, the 2014 South by Southwest festival brought in an estimated $315 million worth of economic impact to the city. Bonnaroo, held in Manchester, Tennessee, is estimated to have an impact of just over $50 million. Ultra, another EDM festival in Miami, can make an impact of nearly $80 million in a weekend.
While throngs of unwashed, inebriated 20-somethings may not seem as appealing to lawmakers as seeing the streets of Atlanta featured on the silver screen, the presence of music festivals in the state is clearly a net positive for the community. Hopefully in future years local politicians will keep an eye on their development and consider legislation to ensure their growth in the state.
