Speaking Startup: The risky business of music festivals

Missouri Business Alert’s Speaking Startup podcast explores news and issues important to Missouri entrepreneurs. On today’s show we’re taking a look at the business of music festivals in Missouri. At their core, they all share one thing: ambitious entrepreneurs looking to harness their growing popularity and make money. But in their race to become the Coachella of the Midwest, overspending or under-planning can lead to catastrophe. The rundown: 1:47 – We take a look back at Missouri's Woodstock, the 1974 Ozark Music Festival at the state fairgrounds in Sedalia. 4:06 – LouFest founder Brian Cohen discusses the festival's heyday and what’s at stake when organizing a music festival. 15:00 – Charlie Greene from Borda Productions talks about the company’s history, their revenue and growth model, and what festival organizers need to prioritize to avoid catastrophe. 22:00 – We look back to last year's failed EDM festival Boonphoria, which left some fans and vendors claiming fraud. 24:08 – A look at some numbers from the music festival industry.