Less than half a week removed from reports that Insomniac was eyeing Woodstock grounds, ID&T has announced that they are taking the Mysteryland Festival brand to the hallowed grounds. This shouldn't be any surprise to anyone paying attention and reading DAD regularly as I touted this as the move back in June. The move, which was announced in the Wall Street Journal, includes details pertaining to the size of the festival (20,000 people), the proposed budget ($10 million), and the motivations.
As the WSJ writes, "Mr. Stutterheim said his company had dreamed for years about hosting festivals in the U.S., but couldn’t afford to do so until earlier this year, when entrepreneur Robert Sillerman’s SFX Entertainment, Inc., bought a 75% stake in the company and quickly agreed to finance their expansion plans. Mr. Sillerman is planning a $175 million public offering of SFX in coming weeks to raise funds for his recent spree of dance-music acquisitions, according to his IPO filing last month."
The most interesting point is that the 2014 edition of Insomniac's EDC New York will be taking place during Memorial Day Weekend 2014. Proper EDM Wars!!!
UPDATE Justin Kleinfeld, the man behind Rephlektor and one of the most powerful people in EDM today, left the following tweet. Take from this what you will:
Dance Music fans finally have their Woodstock. So many amazing surprises to come. Nothing typical about what Mysteryland has in store.
— Justin Kleinfeld (@rephlektor) August 20, 2013
