RALEIGH, NC (April 2, 2024) – Global superstar J. Cole and Dreamville, the globally recognized entertainment brand and multi-platinum record label for which he cofounded, have released today Dreamville Festival’s 2023 Economic Impact Report, which puts the festival’s total economic impact at $145.9 million.
In 2023, the two-day event at Raleigh’s Dorothea Dix Park also provided the equivalent of over 1,300 full-time jobs.
Last year’s festival witnessed record-breaking crowds with over 100,000 guests flocking to Raleigh including patrons from all 50 U.S. states and 23 countries across four continents, cementing Dreamville Festival as the world’s largest artist-led music festival.
“Dreamville Festival brings visitors from all over the world, and they create a lot of excitement and energy in Raleigh. While we are sad when the festival concludes and the artists and the crowds leave, their celebration creates a positive and lasting impact for our City,” said Evan Raleigh, Assistant City Manager for Raleigh.
“Our team couldn’t be more proud to watch Dreamville Festival grow into what it has become today, although none of this success would be possible without the incredible support of our community. Thank you to Raleigh, Wake County, North Carolina, and, of course, our Dreamville fans worldwide,” said Dreamville Cofounder and Festival President Adam Roy.
The total impact figure (direct, in-direct, and induced outputs) combines festival operations with visitor and residential spending and calculates their overall total effects in the local economy. The economic boost was greatest in the areas of hotel ($20.5M), food and beverage ($18.7M), and ground transportation ($9.8M). Wake County hotel occupancy also reached 94% on the Saturday night of the festival, up 2.6% from the same day last year. The number of rooms sold, increased the most compared to last year on the night of Sunday, April 2, up 11.7% from the same day last year.
“Dreamville continues to be a major driver of visitor direct economic impact to our hotels, restaurants and retailers throughout Wake County. There are high expectations that 2024 will continue to see 80% or more of the tickets held for the two-day festival to be from visitors from all (50) US States and (20+) international countries. A truly global event for Raleigh!” said Loren Gold, Executive Vice President of Visit Raleigh.
With similar audiences expected this year, Dreamville Festival organizers have invested significant resources this spring to once again bring together a diverse lineup of music acts, food vendors, small businesses, and nonprofit organizations found in Raleigh and across North Carolina.
This coming weekend, Dreamville Festival will host live performances from two dozen music performers, alongside more than 75 food vendors, muralists, artisans, nonprofit organizations, and other small businesses found across North Carolina.
The festival’s 2023 economic impact report was prepared by Angelou Economics, with additional contributions from Live Nation Entertainment, Visit Raleigh, and the City of Raleigh, among others. To learn more, click here to explore the report and new infographic.
A limited number of two-day GA tickets to Dreamville Festival 2024 are on sale now at www.DreamvilleFest.com, with a portion of proceeds being donated to the festival’s official charity partners, the Dreamville Foundation and Dorothea Dix Park Conservancy.