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Music Ally Focus
"The music festival industry is suffering and there is something fundamentally wrong at its heart" – so what can be done to revive it?
May 3, 2024
Nick Morgan and Yasmine Galleti discuss the challenges facing the music festival industry, including the financial pressures, changing customer demographics, and the need for innovation. They highlight the advocacy efforts of AIF for governmental support and the importance of community in music festivals.
40:03
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Quick takeaways
- Festivals facing financial strains require government support for survival and growth.
- Adapting to changing consumer behaviors and preferences is crucial for the sustainability of festivals.
Deep dives
Economic Impact of Festivals
Festivals play a crucial role in the music industry's economy with an ecosystem supporting artists, suppliers, and the overall infrastructure. Rising costs and slim profit margins challenge festival organizers, leading to cancellations and financial strains. The value of festivals goes beyond entertainment, benefiting local businesses and economies.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode