Peter RubinsteinA study was recently released by Beacon Economics, LLC that tallies up the total economic impact of music festival Electric Daisy Carnival on the city of Las Vegas since its move in 2011. For the last five years, the event has drawn in a astonishing $1.3 billion of revenue for the city’s economy, as well as a 1.7 million strong attendee base that doubles the population of Las Vegas itself. With this amount of money, reports CBS, you could afford to live at the strip’s Caesar’s Palace for 2,673 years!
In 2015 alone, the festival drew in 405,000 headliners, earning $350.3 million for the Clark County economy. This number, of course, has only increased since the event’s Las Vegas debut. Beginning in 2011 with a $137 million revenue, EDC’s popularity and impact have gone up steadily as each new line up is announced. According to Market Wire, the total amount of revenue over the last five years equates to the average daily GDP of the state of New Jersey.
The headliners’ spending during the festival’s stops throughout the years has also generated $1 billion, most of it due to food & beverages and housing. On Insomniac’s part, the cost of putting on five years worth of festival has amounted to $280 million – enough to build nearly two and a half Disneyland parks. Adding in their direct spending, without including the amount paid to artists, the total climbs up to $440 million!
Check below for a full infographic on EDC’s staggering financial impact, and look forward to this year’s stop on June 17-19!
Sources: CBS, Market Wired