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Music Festivals 2017: Coachella Hauls In Record $114 Million In Profit
Billboard reports that Coachella earned more than $114 million in profits in 2017, the first reoccurring festival to break the $100 million mark in a single year.
While it's still a pace off the highest-grossing festival of all time — 2016's two-weekend Desert Trip, which earned more than $160 million — Coachella has again claimed the top spot among profitable reoccurring festivals, a distinction it has earned each year since 2011.
As the festival's popularity has grown, so has its profit — seven-fold since 2007. In 2007 Coachella earned $16 million when it was still a one-weekend deal. After moving the celebration to two weekends in 2012, the festival earned $47.3 million.