Entertainment

Lollapalooza Will Stay in Chicago For Another 10 Years With New Agreement

Chicago’s hottest music pageant is not going wherever anytime quickly.

As Lollapalooza neared the top of its fourth and remaining day Sunday, Mayor Lori Lightfoot introduced an settlement to maintain the pageant in Grant Park for no less than one other 10 years.

A contract introduced between C3 Presents, the corporate behind Lollapalooza, and the town of Chicago requires the Chicago Park District to receives a share of all C3 income streams starting from 5% to twenty%, relying on complete pageant income, in line with a information launch.

Lightfoot referred to as Lollapalooza “not solely a big financial driver” for the town, however a “actually iconic Chicago summer time pageant.”

“…I’m thrilled to return to this settlement that can guarantee Lollapalooza is right here to remain for the following decade—bringing music, tradition, and pleasure to each residents and vacationers for years to return,” she mentioned in a information launch. “I thank C3 Presents and our companions who made this settlement and well-known pageant doable.” 

Below the phrases of the contract, the utmost variety of attendees for the pageant at any time cannot exceed 115,000. 

Occasion organizers may also present annual reporting on gadgets resembling efforts to current native Chicago artists and rent minority and women-owned enterprise subcontractors, in line with the information launch.

Whereas the contract mandates Lollapalooza keep in Chicago for no less than 10 years, it presents the choice of a possible five-year extension. Below the deal, it is believed Chicago will see a future monetary impression of practically $4 billion.

Since 2010, the pageant has generated practically $2 billion for the Chicago financial system, in line with the financial growth agency AngelouEconomics. In 2021 alone, Lollapalooza contributed $305.1 million to the town.

www.necn.com

New England Cable News

New England Cable News is a regional 24-hour cable news television network owned and operated by NBCUniversal serving the New England region of the United States. It focuses on regional news, though in some low priority timeslots, paid programming and programming from WNBC such as Talk Stoop and Open House are seen.

Related Articles

Back to top button