RALEIGH, NORTH CAROLINA – `RIL 7: J. Cole performs at the 2024 Dreamville Music Festival at Dorothea Dix Park on April 7, 2024 (Photo by Astrida Valigorsky/WireImage)
J. Cole isn't just a blessing when it comes to a microphone – his annual music festival provides revenue for the city of Raleigh during one of the most financially challenging times in the country.
Dreamville Festival's 2023 Economic Impact Report was released ahead of the 2024 edition and estimates the festival's total economic impact at $145.9 million. In doing so, it solidifies its position not only as the world's leading arts festival, but also as one of North Carolina's most significant economic influences.
What does that mean exactly? Dreamville creates jobs, increases tax revenue and generates business for hoteliers and local businesses.
Last year, the event generated the equivalent of more than 1,300 full-time jobs over two days at Dorothea Dix Park in Raleigh. This comprehensive figure includes not only festival operations, but also visitor and resident spending, reflecting the broader impact on the local economy. In particular, the economic recovery was most noticeable in sectors such as accommodation ($20.5 million), food services and beverages ($18.7 million), and ground transportation ($9.8 million).
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With the festival ending yesterday, the 2024 Impact Report is sure to exceed all expectations. “The Dreamville Festival brings visitors from all over the world and creates a lot of excitement and energy in Raleigh. Although we are sad to see the festival come to an end and the artists and audience leave, their celebration has a positive and lasting impact on our city,” said Raleigh Assistant City Manager Evan Raleigh.
This is reflected in the 100,000 festival-goers who travel from all 50 U.S. states and 23 countries on four continents to hear a lineup of some of hip-hop and R&B's most influential entertainers. This year, J. Cole, Nicki Minaj, SZA, 50 Cent, JID, Lil Yatchy, ScHoolboy Q, Sexyy Redd, Jeremih, Teezo Touchdown, EarthGang and more took the stage at the two-day event.
“Our team couldn't be prouder to see Dreamville Festival grow into what it is today, although this success wouldn't be possible without the incredible support of our community. “Thank you to Raleigh, Wake County, North Carolina, and of course our Dreamville fans worldwide,” said Adam Roy, co-founder and festival president of Dreamville.
Loren Gold, executive vice president of Visit Raleigh, agrees: “Dreamville continues to be a key driver of the direct economic impact of visitors to our hotels, restaurants and retailers throughout Wake County. Expectations are high that at least 80% of tickets to the two-day festival will continue to come from all (50) US states and (20+) international countries in 2024. A truly global event for Raleigh!”
Dreamville attendees also had the opportunity to explore over 50 on-site restaurants, food trucks, chefs and other food vendors at this year's weekend music celebration. This extensive food offering offered attendees a diverse selection of bites from popular culinary hotspots both in Raleigh and across the country.
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