How much money are the festivals and concerts in Romania generating?

0 464

The festivals and concerts in Romania are estimated to generate sales of over RON 600 million in 2019 after luring over one million spectators, according to a Frames study.

Neversea, Ed Sheeran, Electric Castle, Bon Jovi and The Cure performances in our country have gathered hundreds of thousands of people, and at least as many are expected at the upcoming gigs of this summer: Untold, AfterHills, Metallica and George Enescu Festival.

According to the study, 240,000 people attended Neversea on the Romanian seaside early this month and over 200,000 went to Electric Castle in Bontida, Cluj in mid-July. 50,000-60,000 were estimated to having attended the recent Bon Jovi concert on July 21.

Apart from the sold tickets, festivals also mean tens of million of Ron cashed in from services, food&drinks, transport, tourism, promotion items and other related businesses.

The survey reveals that the business in the entertainment sector mounted to RON 472.6 M last year, more by RON 80 M as against 2017.

The leap from 2010 in this area is spectacular, as nine years ago those 366 companies in the entertainment sector reported businesses of almost RON 78 million. In 2017, the number of companies reached 1,196 and last year there were 1,238 companies.

The authors of the study say the entertainment business has become more professional amid growing marketing innovative solutions. The profit in the industry was RON 5.8 million in 2010, while it stood at RON 62.2 M in 2017 and to RON 87.9 M in 2018.

Untold is the main player in the local entertainment industry, generating a business of RON 68.3 M in 2018, RON 9 M more than in 2017. Global Record from Constanta ranked second- RON 45.8 M in 2018 and Festival Tickets Management from Cluj comes third- RON 26.9 M turnover.

Neversea festival in Constanta reached a turnover of RON 25.2 M last years, by RON 7.4 M more compared to 2017.

The analysis points out that, amid growing investments in the entertainment sector (logistics, concerts, festivals) and as the audience becomes increasingly diversified, the local entertainment market is expected to reach RON 1 billion in 2021-2022.

- Advertisement -

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More