Drug Deaths Threaten the Rising Business of Music Festivals

The electro-dance music festival industry prevails to exceed in popularity amongst the youths of our age. They draw ten to hundreds of thousands of fans to experience a weekend of a lifetime for the cost of up to $300 for 2-3 days. Successful? Investors and corporate sponsors think so.

Here’s the problem: parties, drugs, and deaths. The numbers of drug-related deaths that are occurring at these events are adding up, keeping big time companies such as SFX Entertainment and Live Nation Entertainment on pause for any I.P.O. or sponsorship actions. The striving success of the music festival business faces the challenge of the ongoing drug-abuse culture that comes within. Is it ethical for a company to plunge into partnership for the soaring profits knowing the well-aware liabilities? Is it even a good business move having your name on the headline of a 19-year-old drug-abuse death?

Robert F.X. Sillerman, chief executive of SFX, says “professionally run festivals and events … provides the opportunity to provide health and safety guidance.” (Sisario) Looks like SFX is choosing to take the risk. Their approach is to raise more drug abuse awareness at their next event. If we come to an understanding of the risk and matter of the issue, companies like SFX, can use the opportunity to take that extra step- be it to educate, a higher cost in medical attendance or security- in providing a successfully safe experience.

Article link:                                                                                                         http://www.nytimes.com/2013/09/10/arts/music/drugs-at-music-festivals-are-threat-to-investors-as-well-as-fans.html?adxnnl=1&ref=media&adxnnlx=1378951943-jmYfU6rp9Qa0QFm8LGR7/A

Matthew Rybarczyk, 20-year-old rave drug-abuse victim:                                  http://www.silive.com/eastshore/index.ssf/2013/07/drug_link_seen_in_sudden_death.html