The world’s largest Dance music festival revealed its numbers for the past year — and to say they’re good doesn’t cut it. WeAreOne.World, the company behind the world-famous Tomorrowland festival, reported a net profit of €8.4 million in 2023. While this is lower than the exceptional €24 million earned in 2022 (which included an extra festival weekend to compensate for pandemic years), it’s a significant improvement over 2019’s pre-pandemic profit of €4.6 million — value which is more comparable to 2023 than 2022 is, due to that extra weekend. The company’s overall revenue in 2023 reached €129 million, down from €164 million in 2022 due to the absence of the additional festival weekend. However, compared to 2019’s €112 million, the revenue indicates a healthy post-pandemic recovery. WeAreOne.World is leveraging the fame of Tomorrowland to expand its reach. This includes organizing sister festivals in the French Alps and Brazil (Tomorrowland Winter and Brasil), along with events and activities in various countries like Colombia, Mexico, and Dubai (such as the CORE events). The company is also exploring Thailand as a potential future location for a Tomorrowland edition, as we’ve talked about in the past. Beyond festivals and events, WeAreOne.World is diversifying its business ventures. They have established business units dedicated to music (the Tomorrowland Music record label), artist management, fashion, media (radio and fantasy books), and the Tomorrowland DJ Academy, which aims to cultivate new DJ talent. As for the profits generated, WeAreOne.World plans to reinvest most of it for future growth. This includes relocating to a new office in Antwerp and further developing its various projects. The company emphasizes that the success of Tomorrowland serves as a springboard for their broader expansion plans. Finally, it’s a good thing to note the economic impact of Tomorrowland on the local Belgian economy. The 2023 festival involved over 1,200 Belgian suppliers, generating an estimated 557 jobs and €37 million in additional economic activity for the region. Additionally, the event is estimated to have contributed to a €281 million increase in overall economic activity and the creation of 1,900 full-time jobs. [H/T] De TijdTomorrowland Reports 8.4M Euro Profit For 2023 Edition
Expansion, Diversification And Growth