Many people who follow music and which performing artists are touring have, no doubt, noticed a rather large amount of music festivals that are appearing all over the world, primarily in the United States. There are festivals that have been around for several years and are famous, including Bonnaroo and Lollapalooza, but there are many music festivals that have just recently been started as well.
There are several factors that play into the recent inundation of music festivals across the country, and one of the major factors would be that millennials are willing and enthusiastic about attending music festivals. People in the music business are beginning to realize this, and, as a result, these events are popping up almost everywhere for a simple reason: they make money, and lots of it. According to forbes.com the five major music festivals grossed $183 million in 2014 (and that's just ticket sales!). As the numbers show, large amounts of people both young and old are willing to spend anywhere from $60 to $500+ for a single day or multi-day event where their favorite bands and musicians are performing.
Festivals, especially those that center around certain genres of music such as Stagecoach Festival in California (country) and Electric Daisy Carnival which is held in Las Vegas, Nevada (electronic dance music), tend to attract distinct and loyal fans. Most music festivals are diverse in the acts that are playing and this, too, is a major appeal for festival goers. It is sometimes a better experience and a much more economic decision rather than going to multiple concerts. Music festivals have worked extremely hard at defining themselves as unique experiences and each festival has different appeal in terms of location, price, "vibes", and performing acts. Festivals have a certain allure even for those who are not wholly there for the music as most events label themselves as a "music and arts festival". In addition, food is a large part of the fun as there are usually (at least!) dozens of food trucks with every food imaginable.
Music festivals are loved by attendees because of the greatly unique experiences that can be shared by everyone who attends. The music is a major part of the enjoyment, of course, but there are quite a few people who enjoy the food, arts, and people just as much. More and more music festivals are being created by visionaries who see that, perhaps, this is where the future of live music is heading.
