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Tomorrowland discusses approach to recouping €25m losses

The electronic music brand is attempting to “cushion the financial hangover” from six cancelled festival weekends between 2020 and 2021

By IQ on 25 Jul 2022

Tomorrowland

Tomorrowland


image © Julian Dael, CPP

Tomorrowland’s chief has discussed the festival’s attempts to recoup some of the €25 million it lost between 2020 and 2021.

As previously announced, the Belgian festival was granted a permit for a third festival weekend this year to “cushion the financial hangover” from six cancelled festival weekends, including four in Belgium (Tomorrowland 2020 and 2021) and two in France (Tomorrowland Winter 2020 and 2021).

This year’s extended edition will see a record 600,000 people descend on De Schorre park, Boom, between 15–17, 22–24 and 29–31 July.

The sold-out third weekend was priced 5% higher at €114.50 per day or €310 for the weekend, to help compensate for high inflation in Europe.

In addition to the extra weekend, Tomorrowland founder Michiel Beers successfully appealed to the festival’s headliners to discount their 2019-level fees by 10%.

Tomorrowland founder Michiel Beers successfully appealed to the festival’s headliners to discount their 2019-level fees by 10%

According to the handful of headliners Billboard spoke to, it wasn’t a tough sell. “We’re all sticking together because basically we’re kind of lost without each other in this game,” said Danish techno DJ Kölsch.

The extra weekend and lower artist fees won’t be enough, however, to make the company profitable again, according to Tomorrowland founder Michiel Beers.

“It’s an important part of a solution of being healthy again,” he says. “Does it cover a two-year loss? No.” What’s more, the festival must return to its two-weekend format from next year onwards.

In, perhaps, another bid to recoup losses, Tomorrowland teamed up with another of Belgium’s biggest festival organisers, Rock Werchter, for a new two-day festival in Brussels.

Core festival debuted between 27–28 May in Osseghem Park, with up to 25,000 visitors per day enjoying sets from the likes of Action Bronson, Caribou, Celeste, Cellini, DJ Harvey and Jamie xx.

This year also saw the return of Tomorrowland Winter at the Alpe d’Huez ski area between 19–26 March 2022. The festival’s other activities include a partnership with leading global cryptocurrency exchange FTX Europe and a link-up with Coca-Cola.

 


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