Imsomniac

The Ledger is a weekly newsletter about the economics of the music business sent to Billboard Pro subscribers. An abbreviated version of the newsletter is published online. For all the consolidation in the concert industry in the last decade, the festival business remains a diverse array of events operated by independent companies rather than the corporate behemoths. That’s one takeaway from Billboard’s new list of the top 50 music festivals of 2022 that considers the quality, size and cultural impact of the biggest and best events around the globe. The top 50 list is filled with potential mergers and acquisitions for growth-minded promoters: 35 of the top 50 festivals are owned by either independent promoters or, in a handful of cases, non-profit organizations. Some festivals are fewer th...