Bonnaroo Music and Arts Festival, a four-day music festival that happens every summer in Manchester, Tennessee, seems to be losing its momentum.
For the first time ever, the event reported a loss in ticket revenue in 2016 as compared to 2015, and dropped 46% from the festival’s revenue peak in 2011. Over the course of the 10 years the event has happened, on average it sells about 75,000 tickets – but this year, only 45,537 were purchased for the 2016 event.
Tickets sell at $324 each, leaving Bonnaroo with a loss of $9.07 million compared to 2015. Many blame this on the mediocre lineup and high ticket cost as the festival circuit becomes flooded with different lineups appealing to the masses in other ways. The Bonnaroo team, however, remains optimistic as they have invested millions of dollars in infrastructure at the venue. Live Nation also recently invested in the company, which leaves high hopes for more musical festivals to be brought to the farm in the coming years.
“For the past 15 years we’ve been extremely fortunate to have over a million fans share the Bonnaroo experience with us. While our attendance is slightly lower this year, the Bonnaroo community is as vibrant as ever and excited about celebrating this milestone year on The Farm.”
Source: Tennessean