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Breaking Down #Beyonce: A Counterpoint on Her Festival Finances
I will always defer to Dan Runcie when it comes to music. But he's doing double-time in the media lane, and he's missing some things in saying it's not in Beyonce's financial interest to perform at festivals.
First, let's break down what he's saying about what she makes from the tour:
- Beyonce grossed $579M on tour w/ a budget of $150 million, across 56 dates
- Thus, she netted $7.6 million each performance from ticket sales
- Throw in that she monetized footage from the tour with a film that grossed $44M, and would have netted $19.4M after AMC takes 57% of U.S. and 30% of international box office
If we deduct a conservative $1m in cost on that film, Beyonce netted $447.4M, or $8M per performance from her tour.
Now, if we were to estimate what she could earn from performing at Coachella:
- Bey made $8-12M last time around for 2 performances. It's safe to say she could get $14M from #Coachella based on inflation and the rise in their VIP prices over the years. That's $14M net, assuming Coachella pays for performance costs.
- While Netflix is slashing costs, they paid $20M for Beyonce last time, and I think she could get $30M for a series documenting her two weekends. Takeaway $2M for production costs and that's $28M net.
- Beyonce should also make one of her performances a "last minute" PPV (after tickets sell out, of course). If just 10% of the 2.7M that attended her tour globally buy that, that's 270k purchases at $100, for $27M, of which Bey could net $21M.
Those main sources of revenue alone would gross $71M and net her $63M. For just two performances, that would net Beyonce $31.5M per performance.
In terms of gross, that's more than Dan's 3-night calculation of $45M that includes the film, which needed footage from nearly all 56 dates to really work.
On a per-performance basis, her $31.5M per date is 4X what she made on tour.
And if we get creative, some reports have Coachella at 500k attendees in 2023. If that's the case, I believe Beyonce has 3 things she could sell at a festival that can't be duplicated on tour.
#1. She can install a limited experience replete with fashion, paintings, listening rooms, old footage, AR/VR, etc. that could be an upsell on 20% of tickets @ $75. That would gross $7.5M.
#2. Bey could offer "creative" and "business" workshops, where people can train and get guidance from her "people", as well as meet Bey. This is more of a B2B thing; thus, she could sell this for $10k to just 1,000 (250 people per day). That would gross $10M.
#3. Imagine an outdoor Beyonce lounge, that can't be replicated in a stadium, for approximately 1k VIPs paying $500, for a gross of $500k.
I'd estimate those 3 things to cost no more than $3m, which gives her an upside of $15M net.
Altogether, Bey could gross $89M, while netting $78M, or $39M per night.
I'd say that's plenty of reason to explore giving a festival one more chance.
What do the #erastour and the #renaissanceworldtour all have in common and how are these standout concerts impacting students?
Discover all of this and more in our latest #WinAtSocial LIVE Lesson. Play now!
Technology Entrepreneur / Founder and CEO of n-gage.io / Helping the global attraction and hospitality industry to enhance guest engagement, gain valuable insights and drive revenue growth.
Here's just some of the advantages when considering a festival deployment with the n-gage.io software and customisable mobile app.
✅ Engagement can be high, as your audience has already proved their interest by downloading.
✅ Licensing an app and back office solution can be modest compared to percentage spend on social media and other direct marketing activity.
✅ Communication is direct, as push notifications come directly to an opted-in app user’s phone. We also facilitate opted-in email marketing too.
✅ An owned channel becomes a place that organisers can monetise by selling sponsorships and paid for content - with strong potential to neutralise spend.
✅ Use of our 'Capture Your Day' branded frames in-camera function, for sharing direct to social takes engagement viral.
✅ Collection of invaluable data insights, thanks to our geo-fencing analysis, heat maps and audience segmentation tools can be a game changer.
✅ A year-round personal medium for sharing latest news, and spin-off events with fans, without the need to cut through the noise of social channels.
ANNOUNCEMENT!📣
We're *really* excited to be supporting the Cape Town Jazz Festival!
It's fantastic to be transforming the festival experience before, during and after it, giving festival organisers the ability to better engage with their audience and increase revenues 📈
#CTIJF2024#AfricasGrandestGathering#CTJazzFest
Electrical Technician at Faber
2moI am interested to work in ur event programs