Since 2011, Insomniac’s event Electronic Daisy Carnival - traveling worldwide - has generated a total income of $678 million to Las Vegas’ economy with 2013’s event raking in $278 million of the total revenue. As for 2014, the event is estimated to bring in nearly $300 million in total revenue and boosting the economy of Vegas even more than before.
According to an economic impact report released by Beacon Economics, LLC, it was revealed that the third annual event held by Insomniac generated nearly $136 million in ticket sales solely. Between the years of 2011 and 2012 there was a 38% increase in attendees making it one of the largest growing events in Vegas. Of the attendees, 95% traveled from outside of Las Vegas meaning that the event not only produced revenue for the economy of Las Vegas, but also the travel agencies and flight companies that helped contribute toward their planning. Additional to tickets, travel and lodging, Attendees spent nearly $45 million in food & beverages, $22 million in transportation, $20 million in gaming, $13 million in gaming and $12 million in retail.
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Hosting a sold out event of nearly 345,000 attendants - the three day festival produced multiple events in the city besides the concert including sponsored events at day clubs and night clubs producing an estimated 17$ million in tax revenue for the local state government.
Having a 82% return rate for 2014 and a 93% recommendation for others to participate in the event makes the success of this overall event even more successful for the company Insomniac events as a whole, creating it a beacon of entertainment in the multiple cities that it participates in.
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