The rumors were swirling again this week, after it was announced that the music festival’s current owners, Townsquare Media, was selling it and about 200 other festivals to Live Nation.
It’s not the first time that the issue has been brought up, especially since ticket sales and attendance have dropped off in recent years.
But the sale, for a reported $10 million is a bit surprising, considering that Townsquare Media just bought We Fest in 2014 for more than $21 million.
So what is the future of one of the largest country music festivals in the country?
Well, based on everything that I’ve read and/or heard, here are my thoughts on some of the possibilities:
- Live Nation got a bargain that they hope to turn into a profitable event once again and remain in Detroit Lakes.
- Live Nation could move the event closer to the Twin Cities or some other larger market.
- If it is no longer profitable or the value of the event isn’t what it used to be, Live Nation may continue to operate it “as is” and use it as a tax write off.
- “We Fest” may have been a “throw in” in the deal and Live Nation was forced to buy it in order to get other, possibly more desirable festivals. If that’s the case, Live Nation may just decided to shut down the event entirely.
What will happen? Who knows? But it sounds like We Fest is committed to take place in DL in 2020. Let’s hope that’s the case for many more years to come…