“Music Festivals Boom-Booming Despite Economic Crisis” by Kath Regan
A man crowd surfs at Falls Festival 2008
Despite Victoria’s dire teenage unemployment rate and current economic situation, music festivals in the state are thriving.
According to The Bureau of Statistics, the unemployment rate among Victorian teenagers looking for full-time work has jumped from 14.3 per cent to 19.5 per cent in the last year, largely due to the current world economic climate.
The Reserve Bank is also predicted to deliver two more interest rate rises before Christmas, which will affect many young first home buyers.
However, Victorian music festivals, which attract a mainly young demographic, have been more popular than ever.
Falls Festival, a three-day music festival held annually in Lorne, sold out within hours, despite tickets costing a hefty $329. Electronic music festival Parklife also sold out quickly, tickets selling for $122 for just one day.
International festival organisers were shaken earlier in the year, when the Langerado Music Festival in Miami and the Hydro Connect Festival in Scotland called off their events, citing the recession’s impact on ticket sales as a major factor. However, since then, most other major international music festivals have not suffered.
This year’s Glastonbury Festival in England grossed over $50 million, people paying $350 per ticket. The Reading and Leeds festivals also sold out. Last year, live music business in the United Kingdom alone amounted to over $2.5 billion, which surpassed previous years.
Pyramid Rock Festival 2008
The appeal of music festivals lies in their ability to showcase numerous musicians and bands in one location, for the less than the cost of buying individual tickets.
“I prefer to save up and buy festival tickets rather than go to side-shows, which can cost $100 for one night”, says Melbourne student and avid festival attendee Noemie Le Coz, 21. “The atmosphere at festivals is also amazing”.
The popularity of music festivals also reflects the recent trend away from consumer spending on recorded music, and towards live performance.
“I don’t buy CDs anymore”, says Le Coz. “I usually just download individual songs from iTunes. CDs are expensive, and I’d rather save my money and see the band live”.
Pascal Buensoz, a jazz festival organiser working in Lyon, France, is thrilled at the continuing success of music festivals in the region.
“I didn’t know what would happen when the economic crisis hit France”, he says. “A lot of people lost their jobs, or just stopped going out. But then one of the festivals I helped to organise in June [Jazz à Vienne] was very popular, and I think it’s because, in the end, music is something that people are happy to spend money on”.
Upcoming Victorian music festivals include the Meredith Music Festival held in mid-December, The Pyramid Rock Festival held over the New Year, and The Big Day Out, which sold out in mere minutes.
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