5th Annual Festival Heads to Citi Field May 14-15, 2016
New York – The fourth annual Electric Daisy Carnival (EDC), New York held last year at MetLife Stadium over Memorial Day Weekend, attracted 100,000 fans and generated an incredible $43.6 million for the New York/New Jersey economy, according to an economic impact report released today by Beacon Economics, LLC. The news of the impressive fiscal impact, up nearly $10 million from 2014, comes just as EDC New York makes its return to NYC proper at Citi Field on Saturday, May 14 and Sunday, May 15, 2016.
The comprehensive data study revealed that festival attendee spending accounted for an economic output of $24.3 million, while festivalgoers’ direct spending totaled $18.1 million—nearly a 50% increase from 2014. Additionally, the festival created an estimated $3.5 million in tax revenue for state and local government, the equivalent of supporting 811 after school programs. Insomniac’s economic output equaled $19.3 million with direct spending marked at $10.7 million.
Thirty-seven percent of EDC New York attendees traveled from outside the metropolitan area just for the event, accounting for an estimated 24,100 hotel room nights alone, generating $3 million in accommodations. Local residents and visitors from across the globe enjoyed $8.5 million in food and beverage during their stay, equivalent of 421,670 pastrami sandwiches from local favorite, Katz’s Delicatessen.
A remarkable $2.8 million was spent on transportation in the surrounding areas, akin to 504,270 round-trip PATH rides from Hoboken to Manhattan. Many festivalgoers also enjoyed the metropolitan area’s attractions during their stay, generating $4 million in entertainment and retail spending. Beacon Economics used data provided by tens of thousands of attendees via a comprehensive survey and input issued by Insomniac.
In addition to EDC New York’s economic impact on the New York/New Jersey economy, Insomniac’s charitable giving program, Insomniac Cares, donates $1 per ticket transaction and $10 per guest list attendee to charitable organizations in the local communities where its festivals are held. This year, Insomniac is proud to announce their partnership with Horizons National, a non-profit organization dedicated to providing local summer enrichment learning programs for over 4,000 low income students every summer across the US. Insomniac’s donation will go toward improving and expanding Horizons’ arts program.
The 5th annual EDC New York will head back to Citi Field with a newly expanded festival footprint on Saturday, May 14 and Sunday, May 15, showcasing over 60 diverse performances in dance music. The weekend will feature four massive stages, four brand new VIP viewing areas, the East Coast debut of Carnival Square, and countless carnival rides and art installations. Attendees will also witness the iconic Crystal Village stage for the last time in the U.S., as it makes its final breathtaking stop at kineticFIELD in New York.