The number of artists receiving remunerative or compensation payments at music festivals across the world hit record highs in 2016, according to the organisers of events held in over 200 cities across the globe.
The International Federation of the Phonographic Arts (IFPA) said the figures showed that the industry is making a positive contribution to the world’s economy.
It said the remunerated performers and artists have a direct impact on the economic wellbeing of countries by providing a direct source of income to millions of people, with the industry providing employment, income and income support to over 30 million people.
In 2016, artists received around $1.8 billion in remuneratives and compensation payments from the festivals, according a report released in January by the IFPPA.
The IFPA report found that artists’ remunerates ranged from $250 to $500,000, with $50 million paid to artists and $500 million to the festivals’ organisers.
It also said the industry contributes to local economies in the form of festival revenue, ticket sales, merchandising, hospitality, food, beverage, and advertising.
The remuneratory payments made to artists are in line with their global peers, with artists making more than $600 million in remissions last year, the report said.
According to the IFPA, artists’ payments ranged from 50 to 100 percent of their earnings.
However, the IFAPA said artists were also paid more in the US and the UK, which have the most festivals, than in India, the US, or China.