Goldenvoice, the company that runs the Coachella and Stagecoach music festivals, has purchased 280 acres of land that the festivals are held on. They also hold a long term lease on the other 280 acres that comprise the rest of the festival grounds. The president of the company stated that this would allow them to build infrastructure for the festivals instead of having to redo everything each year. I think that the purchase will be good news for fans. The building of a permanent festival structures could lead to a decrease in some costs for the company. It will also lead to safer structures. While Coachella has never had any major disasters. Weather related catastrophe's at other festivals and fairs in the last year have raised some concern about the ability of temporary stage structures to hold up in adverse weather conditions. While I don't see the reduction in costs to put on the festival trickling down to the fans for some time, it may be a possibility that in the future some costs for fans attending the festival may be slightly less. Of course, Goldenvoice could just decide to reap all the benefits of the cost reduction in profits, but let's hope they decide to be a bit more generous than that.
Concert Promoter Purchases Coachella Grounds
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