The main key stakeholders of Australian music festivals market include consumers, events management and promotion businesses, Australian government and NPOs.
In 2015, the Australian music festival industry has generated over $106 million in ticket sales and more than 1.3 million in attendance (Live Performance 2015). The music festival industry has become one of the key economic drivers for the event management and promotion business as business participants are responsible in providing festival management, promotion, venue operations and ticketing services (IBIS World, 2017). The steady demand from festival industry associations has contributed significantly to the growth of event promotion and management service industry. According to IBIS World (2017), the event management industry revenue is forecast to continue to rise over the
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Health and safety of music festival attendees are the industry’s biggest concern and challenges in recent times. The Australian Institute of Health and Welfare’s National Drug Strategy Household Survey (2015) has reported that 27 percent of Australians aged 20-29 had used illicit drugs in the preceding 12 months. The existing nature of Australian drug culture and the health risks associated with such can have huge impacts on the Australian music festival industry due to the drug-use legislation and policies from the Australian government.
In 2016, major national music festivals such as Future Music Festival and Stereosonic have been cancelled due to low ticket sales following its alleged drug overdose deaths at the festivals in the past few years (ABC news 2016). The Australian music festival market were hit hard by the hiatus of these major festivals, experienced substantial decrease in revenue by 25.2% and by 48.2% from in attendance (Live Performance