It's time to think about Oxegen's economic heft: Here's something to occupy your time on the way to Punchestown today: how much is Oxegen worth to the Irish economy?
While there has been a lot of chatter and analysis this summer about the attraction of foreign festivals and a go-slow in ticket purchasing here, Oxegen is still the big kahuna when it comes to outdoor music bashes in Ireland. Even with a couple of no-shows from Drake and John Mayer, it’s easily one of the heavyweight bills of the European season.
Let’s start our back-of-an-envelope calculations with the ticket revenue. Oxegen has a 85,000 capacity, but there is no breakdown given on those who purchase weekend tickets against those who go for daily tickets.
There has been a huge promotional push in the past few weeks, which usually indicates a shortfall in sales. Therefore, let’s go with a guesstimate of 60,000 weekend sales and 15,000 daily sales. That’s a ticket take of about €15 million, based on an average weekend-ticket price of €222 (different prices for three- or four-day tickets, with or without camping).
Our 75,000 Oxegen-goers then need to pay for travel, food, drink and other essentials. These amounts will vary depending on circumstances, but an average of €250 a head doesn’t seem improbable, which means another €19 million in the pot.
All in all, that’s €34 million or thereabouts from those who attend the festival. Then, there’s the knock-on income and expenditure over the weekend, on wages (everyone from Dublin Bus drivers to people selling T-shirts on site) and accommodation for the non-campers. Maybe it’s time to think about Oxegen’s economic heft as much as its rite-of-passage role in Irish life.
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