Jim Carroll

Music, Life and everything else

The €34 million plus music festival

Here’s something to occupy your time on the way to Punchestown today: how much is Oxegen worth to the Irish economy? While there has been a lot of chatter and analysis this summer about the attraction of foreign festivals and …

Fri, Jul 9, 2010, 08:59

   

Here’s something to occupy your time on the way to Punchestown today: how much is Oxegen worth to the Irish economy?

While there has been a lot of chatter and analysis this summer about the attraction of foreign festivals and a go-slow in ticket purchasing here, Oxegen is still the big kahoona when it comes to outdoor music bashes in Ireland. Even with a couple of no-shows like Drake and John Mayer, it’s easily one of the heavyweight bills of the European season.

Let’s start our back-of-an-envelope calculations with the ticket revenue. Oxegen has a 85,000 capacity, but there is no breakdown given on those who purchase weekend tickets against those who go for daily tickets.

There has been a huge promotional push in the last few weeks, which usually indicates a shortfall in sales. Therefore, let’s go with a guesstimate of 60,000 weekend sales and 15,000 daily sales. That’s a ticket take of in or around €15 million, based on an average weekend ticket price of €222 (different prices for three or four day tickets, with or without camping).

Our 75,000 Oxegen goers then need cash to pay for travel, food, drink and other essentials. These amounts will vary depending on circumstances, but an average of €250 a head would probably wash which means another €19 million in the pot.

All in all, that’s €34 million or thereabouts from those who attend the festival. Then, there’s the knock-on income and expenditure over the weekend, like wages (everyone from Dublin Bus drivers to people selling t-shirts on the site) and accommodation for the non-campers. Maybe it’s time to think about Oxegen’s economic heft as much as its rite-of-passage role in Irish life.