Without a doubt one of the biggest music festivals in the universe is Coachella, a cultural mecca for anyone who knows what’s up, and now the festival, its sister event Stagecoach and promoters Goldenvoice have been given license to expand even further following a deal approved by Indio’s city council, reports Rolling Stone.
Already, Coachella and Stagecoach sprawl over 3 weekends in the Californian city of Indio but, as per the new deal, promoters now have the option to take up 5 weekends of the year giving room to either boost the running time of the existing events, or launch something totally fresh.
The deal allows for the potential new events over the 2 extra weekends can have a maximum capacity of 75,000 people, and the others 99,000 people. The agreement also locked in the iconic venue for the festivals until 2030.
Both parties stand to win considerably once the changes are implemented. More shows mean that the council will be able to pocket more cash from the ticket sales, rising from $2.33 to $5.01 starting from 2014.
It seems to be a bit of a no brainer. In 2012, Coachella injected a massive $89.21 million, into the Indio economy with $1,385,196 going directly to the council itself. That number is expected to grow to $2,746,667 with the two new events.
Goldenvoice also addressed their environmental footprint in the region and, while some residents have complained in recent times, the majority of locals have apparently approved of the new deal.
The company is yet to announce whether they will be announcing new festivals yet, but god that would be awesome. Check out the Coachella 2013 line up here.
