The reviews are in, and Peterborough Musicfest continues to deliver an impressive economic impact.
Festival organizers recently released figures evaluating the economic impact of the festival at $4.3 million.
Looking ahead, general manager Tracey Randall aims to build even stronger links with the Peterborough community, businesses, and concertgoers through its offering of free, twice-weekly summer concerts in Peterborough’s Del Crary Park.
“This survey confirms what we’ve always known — music has the power to transform communities and economies alike,” said Randall in a media release. “We’re thrilled to see the impact our festival has on Peterborough and beyond, and we’re grateful for the support that made this assessment possible.”
While aware of the festival’s impact, Randall shared with kawarthaNOW a few surprises the survey revealed — such as the fact Musicfest maintained its $4.3 million economic impact following the pandemic, which saw the festival absent from Del Crary Park in 2020 and 2021.
“We were also surprised to learn that 85 per cent of those surveyed would prefer to purchase from a Musicfest sponsor rather than a non-sponsor,” Randall said. “This statistic highlights that our audience is aware of our sponsors and actively chooses to support them.”
According to the assessment findings, aggregate visitor spending during the festival reached more than $1.76 million, with expenditures distributed across various sectors as follows:
- Accommodations: $116,622
- Restaurants: $604,284
- Other Food/Groceries: $233,696
- Recreation/Entertainment: $173,844
- Retail/Shopping: $306,439
- Transportation: $31,392
- Vehicle expenses: $297,137
Musicfest noted the spending breakdown reflects the diverse economic activity generated by festival attendees, with accommodations and restaurants leading the expenditure categories at 18.8 per cent and 29.8 per cent respectively.
The combined spending of out-of-town attendees, participants, VIPs, and other visitors, along with the expenditures made by the event organizers, was more than $2.34 million. This infusion of funds supported a total economic activity of more than $4.3 million.
Meanwhile, nearly $1.2 million in wages and salaries were supported by the economic activity generated by Peterborough Musicfest, the release noted.
“Arts and culture experiences like Peterborough Musicfest are an enticing draw for visitors and locals alike,” said Joe Rees, director of tourism with Peterborough & the Kawarthas Economic Development.
“Musicfest’s twice-weekly summer concert series are a favourite for locals and cottagers, and also bring people to experience our communities for the first time — enjoying other attractions, accommodations, dining, and recreation while they are here and generating significant economic impact for local businesses.”
kawarthaNOW asked Randall about her aspirations for Musicfest moving forward.
“Our hopes for the continued impact of Musicfest are to further strengthen our ties with the community and local businesses, expand our reach to attract even more attendees, and continue to showcase diverse musical talents,” she said.
“We aim to solidify Musicfest’s position as a cultural cornerstone, not only in Peterborough but also in the broader community,” Randall said. “Additionally, we strive to maintain our commitment to sustainability and inclusivity, ensuring that Musicfest remains a free admission festival and a welcoming event for years to come.”
Here are a few other highlights from the economic impact assessment:
- 64 per cent of attendees stated the festival was the sole reason for their visit to Peterborough
- 69 per cent of out-of-town attendees made daytrips to Peterborough for performances
- 98 per cent of respondents would recommend Peterborough as a great place to visit
- 99 per cent of respondents emphasized the importance of the festival’s annual occurrence.
Running since 1987, the festival offers eight weeks of live entertainment that showcase a range of musicians and music genres on the outdoor stage on the shores of Little Lake. Canada’s longest-running free music festival, Musicfest is a not-for-profit organization that relies on sponsorships, government funding, and donations to continue operating.
The 37th season of Peterborough Musicfest kicks off on Saturday, June 29 with a performance by Canadian country music artist Tenille Townes. Other performers already announced include indie alt-rockers Metric (July 17) and Toronto-based rap rockers Down With Webster (July 31).
The full line-up of performers for the 37th season will be announced on Tuesday (May 14).
