The new economic study commissioned by the Austin Music People (AMP) shows the Austin music industry economic impact over the last four years. In general, more capital came into the city, but it came in the form of large productions: the addition of a second week of ACL fest, the opening of the Austin 360 Amphitheater, etc. So, while the general music economic impact rose from $1.6 billion to $1.8 billion, this came mostly from outside acts playing large venues, and in fact, the impact of primary music (smaller venues, local artists, etc.) declined by over 15% over the last four years. Read the full study here.
As if on cue, ACL Live is getting a second, smaller venue. The new venue, called 3TEN, will be in the same building as the current ACL Live and is set to open next month. Slated to host about 200 concerts each year, at first glance it seems to vindicate the AMP’s study showing that music capital continues to stream in, but only in larger, more elegant venues; however, 3TEN will cater and give ACL-level exposure to (mostly local) up-and-coming bands who may not fill-out ACL Live. With a little luck, this might resurrect the capital gain of local music.
Apparently, the world needs more Coachella. As of late, significant progress has been made towards a fall-time cousin of the spring festival. The festival started running two weekends back in 2012, but even that hasn’t slowed the rate of ticket sales, so Coachella producers Goldenvoice say the next logical step is a fall festival. Goldenvoice, in their agreement with the city of Indio, California, is allowed to host up to five events over the course of the year. As of right now, the company only uses two of them. With this expansion imminent, will Coachella set a new trend for festivals that have already followed suit with a second weekend? (Here’s looking at you, ACL)