Will the music festival craze ever hit a ceiling?
The much-anticipated Desert Trip Festival scheduled for this October is pushing festival expenses to new heights.
The Indio, Calif.-based festival, which was announced in May, will feature some of pop music history's biggest names, including Paul McCartney, Bob Dylan, the Rolling Stones, Neil Young, the Who and Roger Waters of Pink Floyd. The festival is a three-day, two-weekend event that will take place Oct. 7-9 and Oct. 14-16.
Desert Trip Festival will feature a smart seating chart that allows many fans to get close to the action. Tickets are expensive for an event of this type. Face value tickets have already sold out. But a three-day pass with admission to the standing pit in front of the stage was a whopping $1,599.
On the secondary market, three-day passes to Desert Trip are averaging an insane $2,889, with the cheapest pass for either weekend costing $500. Three-day passes for the first weekend are more expensive, averaging $3,258, and passes for the second weekend are averaging $2,453, according to data provided by Razorgator.
Desert Trip could rake in more than $50 million at the box-office alone, making it the priciest festival in U.S. history.
That is largely because of the legendary acts who could each headline most festivals. For older, nostalgic pop music fans, this is a chance to see many of them in one swoop. In some cases, the festival may offer one of the last opportunities to see their favorite performers live.
Other fall festivals of note include Voodoo Festival, which will take place over Halloween weekend in New Orleans, and feature Tool, Arcade Fire, and The Weeknd. It lists weekend resale passes for $177. The Meadows Music Festival in New York, will take place over the first weekend in October and feature Kanye West and The Weeknd. Weekend passes start at just $300 on the secondary market for the event.
This article is commentary by an independent contributor. At the time of publication, the author held TK positions in the stocks mentioned.