The Economics of Music Festivals : Planet Money Music festivals like Coachella and Lollapalooza have gotten a lot more expensive, and the reasons behind that increase can tell us a lot about how the economy is changing.
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The Economics of Music Festivals

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The Economics of Music Festivals

The Economics of Music Festivals

The Economics of Music Festivals

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  • <iframe src="https://www.npr.org/player/embed/753506457/753529586" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
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Christopher Polk/Getty Images for Coachella
INDIO, CA - APRIL 20: Ariana Grande performs with Kygo onstage during the 2018 Coachella Valley Music And Arts Festival at the Empire Polo Field on April 20, 2018 in Indio, California.
Christopher Polk/Getty Images for Coachella

When Jimi Hendrix played his iconic set at Woodstock in 1969, he was paid the equivalent of $125,000 in today's money. Fifty years later, Ariana Grande was paid more than $8 million to headline the Coachella Valley Music & Arts Festival. The economic forces that drove that astronomical increase don't just affect music festivals — they're at play throughout our economy, and they help explain everything from increasing inequality to the rise of Facebook.

Shira Pinson explored these economic forces in a recent video for Economist Films and she joined The Indicator to talk about upheaval in the music industry, the shifting business model for festivals, what it can all tell us about the future of our economy.

Music: "7 Rings" , "The Star-Spangled Banner", "Successful"

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