With the first two months of the year out of the way, a lot of people’s minds are turning towards the summer and festival season. Last year a popular feature on this blog was the analysis music festivals. This year I will be continuing to do these posts. The first of which will be today’s analysis of the price of Electric Picnic festival tickets over the years. This analysis takes the price of Electric Picnic weekend camping tickets from 2016 to 2020. The prices can be seen in the below graph.
The overall trend in the price of these tickets has been upward since 2016 when tickets costed €234.50 and finishing off at €260 for this year’s festival. However, the price increase is only marginal and is probably down to the festival growing in size and the additional costs associated with that rather than just the pursuit of profit.
Using an inflation calculator from the CSO I worked out that a festival ticket which costed €234.50 in Aug 2016 should cost €236.11 in Jan 2020. This means that just €23.89 of the increase is down to factors other than inflation e.g. rising costs. Obviously it would be more accurate to calculate this for August of 2020 but unfortunately this option is unavailable at the moment.
The increase in costs may actually be worth it to some consumers as well given that for the majority of years in question here the size of the festival and the headlining acts has gone up as I noted in an earlier blog post (here). Though at the time of writing for this post, the remaining two headlining acts for the Electric Picnic festival are yet to be announced. Let’s hope they are as big as the first announced headlining act Rage Against The Machine.
It should be noted that Electric Picnic also offer a loyalty discount to customers who have been to the festival the previous year when purchasing their next ticket. This analysis only gives the face value for tickets each year and doesn’t account for this loyalty discount. This basically means that while ticket prices have been rising slightly the Electric Picnic festival is still ensuring that loyal supporters of the event are being looked after.
By Daragh O’Leary