Is It Worth It to Have Red Rocks in Colorado? What Economic Impact Says
When you attend a concert in Colorado do you ever think about how much money is being generated? To be honest, I think about it every single time I attend a concert. It might make me sound like a nerd, but that is how my brain works.
I think about how many people are there, how much they paid for tickets, and the costs to put on a major concert for a massive amount of people.
There are high costs to execute a concert at Red Rocks Amphitheatre. The nearly 10,000-capacity venue is one of the best venues in the entire world. Does having a venue like Red Rocks benefit Colorado? It surely looks like it.
Red Rocks Provides Major Economic Boom For Colorado
Billboard crunched all of the numbers on the economic impact that Red Rocks has on Colorado. They pointed out that Red Rocks provides over 7,000 jobs for Coloradans and provides $717 million for Colorado.
That is a major economic impact and Red Rocks gives back to the community.
Red Rocks also supports Denver’s cultural community through local artist grants and programs, with $3 million in grant support to local artists, 250 artists and art organizations receiving funding support and 250,000+ Denver residents exposed to arts & cultural programs.
Red Rocks Generates More Money Than Any Professional Sports Team
All professional sports teams in Colorado generate a ton of money as well. Merchandise, food and drink sales, and tickets make up the majority of the revenue. According to Statista, here is how much revenue each professional team made.
- Denver Broncos: $563 million
- Denver Nuggets: $348 million
- Colorado Rockies: $286 million
- Colorado Avalanche: $182 million
Yes, it is more than worth it to have Red Rocks in Colorado. We are lucky to have such an incredible venue right in our backyard.
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