Electric Daisy Carnival NYC has just closed it’s doors for 2015. After seeing some photos on social media of the giant crowds and huge production it got us thinking about how much money it must bring to the city. A quick Google later and we found an article on Forbes which gave us a real insight into what the 2014 event did for NYC..
Forbes has released a report which reveals the economic impact of the giant Electric Daisy Carnival Festivial in NYC and the numbers are pretty incredible! The festival brought in an whopping $34 million (split between NYC & New Jersey where the festival took place).
This money included more than 2 million on accommodation alone with more than 11,800 hotel rooms booked by festival visitors over the weekend. It’s pretty mind blowing to think what an impact an electronic music event can have on an areas economy. Perhaps if our (UK) councils took a look over the report they might no impose quite so many restrictions on events here..
The estimated $34million that fans spent on accommodation, travel, food & drink etc is only the tip of the iceberg. This figure does not include the huge sums of money the festival organisers have to spend creating and staffing the event. Last years staff bill was more than $16million alone (before tax) and with some of the most extravagant stage production in the world a line-up that included several of the worlds highest paid DJ’s including Calvin Harris & Tiesto you can bet the figure spent on talent was pretty eye watering too!
So what does all that money Insomniac spent on creating this huge event look like? Take a look the trailer that promoted this years event below to find out…