Did the promoters of Woodstock make any money? This is a question that has intrigued music fans and historians alike for decades. The iconic Woodstock Music & Art Fair, held in 1969, is often remembered as a symbol of peace, love, and music, but the financial aspect of the event has been a subject of much debate. In this article, we will explore the financial success or failure of the Woodstock promoters, and whether they made any money from the legendary festival.
The Woodstock Music & Art Fair was organized by four young entrepreneurs: Michael Lang, Artie Kornfield, John P. Roberts, and Joel Rosenman. They had a vision of creating a festival that would bring together people from all walks of life to celebrate music, art, and the counterculture movement of the time. The festival was set to take place on a dairy farm in Bethel, New York, and was expected to attract around 50,000 attendees.
To finance the event, the promoters secured a loan of $300,000 from a local bank. They also sold tickets at $18 each, which was considered a high price for the time. With the expectation of a large crowd, the promoters believed that the festival would be a financial success. However, as the date of the festival approached, a series of unforeseen events threatened to derail their plans.
First, the weather forecast predicted severe rain and potential flooding, which could have made the festival a logistical nightmare. Second, the local authorities were hesitant to grant the necessary permits due to the potential for chaos and public safety concerns. Despite these challenges, the promoters managed to secure the permits and ensure that the festival would go ahead as planned.
On August 15, 1969, Woodstock was born. The festival was a massive success, attracting an estimated 400,000 attendees. The lineup featured some of the biggest names in rock and roll, including The Who, Jefferson Airplane, Jimi Hendrix, and Janis Joplin. The event was documented by legendary filmmakers Michael Wadleigh, Martin Scorsese, and Bob Dylan, and the Woodstock film became a cultural touchstone.
Despite the overwhelming success of the festival, the promoters faced significant financial challenges. The initial loan of $300,000 was not enough to cover the costs of the event, and the promoters were forced to spend their own money to keep the festival running. Additionally, the promoters were unable to collect the money from ticket sales due to the sheer volume of attendees, and many people chose to attend for free.
As a result, the promoters ended up losing a substantial amount of money. Michael Lang, one of the organizers, later estimated that the festival cost them around $1 million. However, the festival’s legacy and the profits from the subsequent film and soundtrack helped to mitigate some of the financial losses.
In conclusion, while the promoters of Woodstock did not make a profit from the festival itself, the event’s success laid the foundation for a long-lasting legacy. The Woodstock Music & Art Fair became a symbol of the 1960s counterculture movement and a benchmark for music festivals around the world. Although the promoters faced financial challenges, the festival’s impact on music and culture cannot be overstated.
