Is There a Music Festival Bubble?

An opinion piece from Heru's Casey Rae in the New York Times' Room for Debate column looks at the past, present and future of mega-festivals.

"The very first music festival probably took place in a small clearing, just a pterodactyl’s throw from the main cave; the manufacturers of crude stone implements no doubt sponsored the one after that.

"Woodstock came later, demonstrating huge demand for music, drugs and the communal experience. With recorded music revenue in a protracted free fall, the live space has become an even greater industry obsession."