According to a study, the Electric Daisy Carnival was solely responsible for over $1 billion in revenue for a Las Vegas County.
Insomiac, the parent company of Electric Daisy Carnival, Beyond Wonderland, Electric Forest and Crush, just released an economic impact report to Forbes. According to the research conducted by Beacon Economics, LLC., the Las Vegas leg of only EDC brought an estimated $1.3 billion to Clark County over a short span of 5 years. Since its first edition in 2011, the festival has more than doubled its revenue stream to $350 million in 2015.
“It is incredible that in just five years our headliners have helped us generate more than $1.3 billion back to Las Vegas,” said Pasquale Rotella, Founder and CEO of Insomniac in a statement to Forbes. “I’m so grateful that I can do what I love while making a positive impact in the community.”
Over 400,ooo attendees resulted in direct spending of $168.3 million last year which meant $21.9 million in state and local tax revenue. Over 5 years that translates to about $81.4 million in state and local taxes. The study doesn’t take into consideration the other cities where the festival takes place such as New York City, Orlando, Brazil, Mexico, and the UK.