Abstract

Music festivals are big business. Glastonbury 2019 sold out over 200,000 tickets - each costing at least $320 - in just 30 minutes. All advance tickets for Coachella 2019 were sold out before Thanksgiving 2018. That makes music festivals a very exciting proposition for any business, particularly for a company like Viacom, with a huge heritage in music and a reputation for putting on talked-about events such as the MTV Music Awards. Through this study, Viacom set out to learn the "secret sauce" of the best festivals and to evaluate how that might be improved. This paper summarises the key findings from the study and presents a "festival framework", identifying the key ingredients to get right, as well as those that are not as important. It provides a comprehensive understanding of music festivals, along with the opportunities and challenges that they present for brands.

Introduction