Ten years ago, the idea that a bright, loud and audacious festival held at a motor speedway caused headline news brought forth thoughts of violence and what many say was the spiritual death of rock and roll's era of "peace and love" at the Altamont Speedway in Livermore, CA in 1969. However, with 400,000 attendees spending a combined total of $158 million at the recently occurring and Insomniac Events-promoted Electric Daisy Carnival at Las Vegas, Nevada's Motor Speedway, the hippie era sadness of Altamont is instead replaced by the promising neon glow of EDM's seemingly bright commercial and cultural future ahead.
Insofar as commerce and culture, a recent infographic from Billboard shows that the projected total economic impact for the City of Las Vegas (including labor income and tax benefits) could be a whopping $322.1 million dollars. With tax revenue of $20.2 million dollars and labor revenue for Las Vegas residents of $131.9 million, the fiscal imprint of the festival on Las Vegas alone certainly gives EDM the necessary life-blood to grow and expand, if not as a collection of musical genres and cultural movement, but as a way (like we here at DAD said back in October 2013) to provide tremendous financial benefit to America's cities which are all in desperate search for diverse tax and commercial revenue streams.
Do note that these are not official Insomniac numbers; their study has not been completed at this time.