There’s something intriguing about the famed Indio, California Coachella festival held at the Empire Polo Club, with celebrities and bands from across the globe gathering to jam out to music. The crowds can get massive. In 2017, attendance peaked at 125,000 people.
Paul Tollett, who co-founded Coachella in 1999, said of the unique experience, “Even before we looked at [Empire Polo Club], it hit us. We wanted it to be far. So you surrender. So you can’t leave your house and see a couple bands and be back home that night. We want you to go out there, get tired, and curse the show by Sunday afternoon. That sunset, and that whole feeling of Coachella hits you.”
But have you ever wondered how much the new-aged music festival brings in for all of its glory? Well, we checked. It goes into the billions. You read that right: BILLIONS.
NBC Palm Springs reported, “More than $1 billion is expected to be generated worldwide from just four events in the Coachella Valley this year, including the Coachella music festival starting Friday in Indio. Collectively, $1.4 billion in profits is projected this year from the Coachella and Stagecoach festivals, Indio City Services Manager Jim Curtis said.”
In 2016, The Los Angeles Times reported the overall economic impact of Coachella was $704 million, a figure projected by the Coachella Valley Economic Partnership and Greater Palm Springs Convention and Visitors Bureau.
But the economy of the Greater Palm Springs area isn’t the only one making money. Some of the artists who appear at Coachella make a killing.
“Previously, many Coachella headliners were paid a lot of money. According to Variety, Ariana’s 2019 concert earned her an $8 million check, while Beyonce’s 2018 performance earned her between $8 and $12 million,” according to the Low End Theory Club.
The festival has seen performances from the likes of Lana Del Rey, who sang her new song “West Coast” in 2014, M83 in 2012, along with Jay Z and Rhianna in 2011.
The billion-dollar-earning festival is happening again this year, starting on April 14-16 and revving up again on April 21-23. See the full lineup of performers here.
