Word: mega
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...supergroup R.E.M. in London's Hyde Park last year grossed over $4.5 million, while Irish giants U2 generated ticket sales of around $300 million from the 110 dates they played in 2005 ensuring, even after hefty production costs, a healthy cut for the promoters, management and venues. For the mega-acts, concerts are now the horse driving the CD cart. In a paper by Princeton economist Alan Krueger and grad student Marie Connolly called Rockonomics: The Economics of Popular Music, the writers found that in the U.S., "Only four of the top 35 income earners made more money from recordings...
...Mega-concert promoters have not always been so sanguine. Just a few summers ago, the American rock festival seemed destined for the trash heap of music history. As recently as 2004, Lollapalooza, the granddaddy of traveling rock happenings, was struggling to stay afloat as sagging ticket sales and a general decline in live concert attendance took its toll. But the following year, Lollapalooza retooled itself from a touring entity into a two-day event based in Chicago's Grant Park. More than 60,000 people showed up to see a slate of some 60 bands that included the Pixies...
...Palm Springs, California, were attracting huge crowds to multi-day marathons that strived to create an alt-culture atmosphere. Getting their cues from European music festivals like England's Glastonbury, Italy's Evolution Festival, Denmark's Roskilde and Norway's Lillehammer, U.S. promoters have realized that once-a-year mega-events have financial and logistical advantages. Multi-day music fests not only allow bands to reach more people in less time for more money, but the scale of such events encourages organizers to turn venues into kaleidoscopic theme parks designed to loosen the wallet and tickle the senses. At Bonnaroo...
...grown to 70,000, many of them well-salaried young people who grew up with the town. They still go all-out during Cristo de los Remedios, but now there are plenty of other things to do during the rest of the year. In 2004, Plaza Norte 2, a mega?shopping center with a golden cupola, 225 shops and 14 cinemas, started drawing shoppers from all corners of Spain. Last year the town opened a new 2,500-sq-m multisports center featuring swimming pools, basketball courts and putting greens. And last month it inaugurated [an error occurred while processing...
...race could get ugly, with both candidates expected to start hurling mud and spending mega-millions on television ads. TIME.com caught up with Angelides the morning after his primary victory and asked him about the race...