10 Extra Years of Lollapalooza: Pageant Strikes New Deal With Metropolis of Chicago
For all of us on the Lollapolooza prepare—we’re not getting it off of it anytime quickly.
Chicago Mayor Lori Lightfoot has introduced that the town's long-running music competition, held yearly in Grant Park, will happen for at the least one other 10 years.
Lightfoot publicly known as Lollapalooza "not solely a major financial driver for our metropolis, however a really iconic Chicago summer time competition."
The Chicago Tribune stories a contract between C3 Presents and the town of Chicago requires the Chicago Park District to obtain a share of all C3 income streams starting from 5% to twenty%, together with admission, items and companies, licensing gross sales, sponsorships and streaming. The deal additionally states that the utmost variety of attendees can’t exceed 115,000 at any time.
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The contract additionally reportedly requires organizers to rent minority and women-owned enterprise subcontractors, commit $2.2 million to Chicago Public Faculties and extra capital funding for Grant Park tennis courtroom renovation, and mandated competition dates over the past weekend of July or the primary weekend in August.
"I'm thrilled to return to this settlement that may guarantee Lollapalooza is right here to remain for the subsequent decade—bringing music, tradition, and pleasure to each residents and vacationers for years to return," Lightfoot added. "I thank C3 Presents and our companions who made this settlement and well-known competition doable."
Whereas the contract now mandates Lollapalooza keep in Chicago for at the least one other decade, it additionally reportedly gives the choice of a five-year extension. It’s estimated that Chicago will financial institution practically $4 billion from of the brand new deal. In response to metropolis officers, Lollapalooza has generated practically $2 billion for the town's economic system since 2010, contributing $305.1 million in 2021, per CBS Chicago.
Lollapalooza has already announced the dates for subsequent 12 months’s competition, returning August 3-6, 2023. Tickets are on sale here.
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