J. Cole isn’t just a blessing when it comes to a microphone — his annual music festival is bringing in revenue to the city of Raleigh during one of the nation’s most troubling financial times.
Dreamville Festival’s 2023 Economic Impact Report was released ahead of the 2024 edition, putting the festival’s total economic impact at $145.9 million, solidifying its position not only as the globe’s foremost artist-led festival but also as one of North Carolina’s most significant economic influencers.
What does this mean exactly? Dreamville is creating jobs, boosting tax revenue, and generating business for hoteliers and local owned businesses.
Last year, over the span of two days at Raleigh’s Dorothea Dix Park, the event generated the equivalent of more than 1,300 full-time positions. This comprehensive figure incorporates not only festival operations but also the spending of visitors and residents, reflecting the broader impact on the local economy. Notably, the economic surge was most pronounced in sectors such as lodging ($20.5M), dining and beverages ($18.7M), and ground transportation ($9.8M).
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With the festival concluding yesterday, the 2024 impact report is sure to exceed all expectations. “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.
This is reflected from the 100,000 festival-goers who travel from all 50 U.S. states and 23 countries across four continents to hear a lineup of some of hip hop and R&B’s most influential entertainers. This year, J. Cole, Nicki Minaj, SZA, 50 Cent, J.I.D, Lil Yatchy, ScHoolboy Q, Sexyy Redd, Jeremih, Teezo Touchdown, EarthGang and more touched the stage for the two-day event.
“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.
Loren Gold, Executive Vice President of Visit Raleigh, agrees, “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!”
Dreamville attendees were also able to explore 50+ restaurants, food trucks, chefs, and other food vendors onsite at this year’s weekend long celebration of music. This expansive food lineup offered attendees a diverse selection of bites from popular culinary hotspots both in Raleigh and across the nation.
