Austin City Limits Music Festival pumps $369M into local economy
Austin City Limits Music Festival officials announced Tuesday that last year's two-weekend event raked in $369 million for the local economy — the first time the figure has surpassed $300 million.
Why it matters: ACL is the city's largest music festival, shutting down Zilker Park for at least a month each year and driving tens of thousands of tourists to the city.
By the numbers: Since festival organizer C3 Presents began tracking the data in 2006, the group estimates ACL has generated over $2.6 billion for the Austin economy.
- A portion of ticket sales goes toward the Austin Parks Foundation, and last year's event raised $6.7 million for city parks.
- The funding is in addition to the maintenance and restoration of Zilker Park, which are paid for annually by ACL.
What they're saying: C3 Presents hired Angelou Economics to survey the festival's economic impact, and the group found the increase from previous years could be attributed to a spike in spending on food and beverages by attendees at the park and local restaurants.
Flashback: Organizers paid the city $103,530 to shut down Zilker Park to the public for at least 27 days last year.
- The group also pays park rental fees, ticket fees and reimbursements for costs related to public safety and transportation.
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