With
Memorial Day weekend, summer has finally arrived and for most music fans that
means one thing; festival season is here! Finance blog Nerd Wallet has taken
out some of the guesswork and figured out which festival gives you the most
bang for your buck. The blog broke down the general admission ticket cost of
three major festivals: Lollapalooza in Chicago, IL, Outside Lands in San Francisco, CA, and Austin City Limits in Austin, TX. How the net value was
calculated was the blog calculated the ticket cost of each artist, calculated
what artist a festivalgoer is most likely to choose, favoring main stage acts,
deducted from the ticket price based on shorter festival sets, and then took
that combined ticket cost (the gross value) and subtracted the ticket price.
Using this
method, Nerd Wallet determined that in 2013, the festival with the biggest
value is Austin City Limits. It’s has a net value of $631.66. Also, its top
artist ticket price is The Cure only $103 meaning that the value is better
spread between the artists. That’s compared with Outside Lands whose top artist
ticket is $154.33 for Paul McCartney. After that is D’Angelo valued at $89.40,
a steep drop-off for a sub-headliner.
Outside Lands ranked second with $621.94 but was considered a waste if
one did not wish to see McCartney. Lollapalooza ranked third which was
interesting considering it the lowest ticket price and not the fewest amount of
artists. The reason being is the artists are smaller priced artists throughout
the entire festival keeping the gross value low.
While this
is a tried and true method in determining whether or not a festival is a good
buy for your summer, it doesn’t tell the whole story. First off, there are two
large omissions from the study named Coachella and Bonnaroo. Bonnaroo may have
a unfair advantage as music goes from noon until 4 AM. I don’t know whether
that makes Bonnaroo have more artists than other festivals but it’s an
important factor in making a decision. Coachella is also a juggernaut and has a
similar lineup to Lollapalooza. Another good comparison would be The Hangout in
Alabama.
The other
problem is intangibles that are not included in Nerd Wallet’s study. The three
festivals selected take place in major cities. That means you have to factor in
hotel costs, food costs, afterparty costs, alcohol, and transit costs among
others. It would be nice to average out those costs to get a real feel on cost
of attending a festival. Bonnaroo and Coachella offer camping, cutting down
those costs. They also have less afterparties and no travel cost, adding to
their ability to be less cost prohibitive.
A third
issue is the rise of the regional festival. Less likely these days are people
making a cross-country trek for a festival lineup when they can have a similar
experience close to home. Firefly in Delaware, Sasquatch! In Washington, and
Newport Folk in Rhode Island would be more interesting festivals to add and
breakdown this concept further. Hopefully, an intrepid statistician will break
this down for a music blog and get the real answer.