CMA Music Festival 2016 Generates Strong Economic Activity For Nashville
July 12, 2016 at 9:29 AM (PT)
Despite a slight downturn in visitor spending, the 2016 CMA MUSIC FESTIVAL generated strong economic activity for NASHVILLE, remaining the city's largest annual tourism event and generating $59.5 million in direct visitor spending. That number is down less than one million from 2015's $60.4 million in visitor spending. Due in part to the 2016 FESTIVAL selling out months in advance, a record-setting daily attendance was logged at 88,500 fans.
A difference was also noted in visitor accommodations and pricing during the 2016 CMA MUSIC FESTIVAL. Stays in home rentals like AIRBNB and VRBO nearly doubled -- from 4.9 percent in 2015 to 9.2 percent in 2016 -- with those attendees staying in hotels dropping from 80.6 percent to 74.6 percent year over year.
"This event still reigns supreme as the ultimate success story and our largest annual event, bringing national television exposure to NASHVILLE and global recognition to our MUSIC CITY brand," said NASHVILLE CONVENTION & VISITORS CORP. President/CEO BUTCH SPYRIDON. "We can't thank CMA and all the participating artists enough for what they do for the city in terms of the economic activity generated and the millions of dollars raised for music education. Even though we saw more people gravitate to more affordable home rental accommodations, which would account for the relatively flat growth in visitor spending, this was another hugely successful event that should be celebrated."