SXSW released their 2015 study of the festival’s economic impact on the city of Austin. Economic analysis group Greyhill found that SXSW 2015 brought in more than 317 million dollars and over 200,000 people to Austin. In comparison, ACL Festival 2015 is expected to make 100 million per weekend and bring in a crowd of 75,000. SXSW isn’t going anywhere anytime soon.
Despite the income SXSW brings in, Austin’s iconic venues are struggling to keep their doors open. One of the most recent to announce its impending closure, the Drag bar Hole In the Wall, may be closing their doors later this year. Home to Townes Van Zandt and Blaze Foley, Hole in the Wall cited the rising cost of rent on Guadalupe for ending their 41 year run. The development of new townhouses behind popular music venue, The Broken Spoke, sparked rumors that it would be next in a long line of venues to close. The Broken Spoke spokesperson, Ginny White-Peacock, set the record straight and says they have no intention of selling the bar. Music venues around town have started to feel the squeeze on their rental leases as commercial real estate interest has remained lucrative. Even more established venues like Cheer Up Charlie’s and The Mohawk have suffered at the hands of construction of developers next to their property.
Not everything is doom and gloom though, local honky tonk bar, The White Horse, starred in the new Kacey Musgraves music video “Are You Sure”, that features Austin native Willie Nelson. Check it out.
Our very own Jacqueline Fuller will be hosting the open mic concert, Couch of Rock, this Friday and Saturday from 2-10pm at The Snack Bar. Sign up your band to play today!