Insomniac Generated More Than $3 Billion for the US Economy Over Past 5 Years
Insomniac released a new report today that uncovered their economic gain over the past five years and the results are impressive. Their article reports that more than 3.39 million participants came together over the 48 events they held between 2010 and 2014 (in 14 cities).
According to their analysis by Beacon Economics, those events from 2010-2014 produced $3.17 billion for the United States economy during that time frame leading up to now. Not surprisingly, Las Vegas was the major benefactor of the 14 cities that were part of the Insomniac schedule. Las Vegas, NV received over 1.7 billion during 2010-2014, while the next closest margin came from San Bernardino with 440 million earned.
The final result: over 25,000 jobs were reported with over $1 billion in labor income for workers.
Pasqualle Rotella released this statement:
“This study beautifully illustrates the powerful financial and cultural impact of dance music here in the United States. As support from our Headliners continues to grow, our contributions can continue to make a difference here at home and around the world.”
Christopher Thornberg, founding partner of Beacon Economics, added this:
“These events not only bring jobs and revenues in the short term, but they play a role in introducing new generations to new places and cultural experiences, encouraging longer-term investment and helping rejuvenate neighborhoods,” says and one of the study’s lead authors.”
Check out their official press release here and check out the media below: