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eastsider

Live Music Capital of the World

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The music industry in Austin has a large impact on the local economy. A study done in 2001 shows that more that $616 million in economic activity is generated annually. Also 11,200 jobs are spured through the music industry and the overall amount of tax revenues going to the city is over $11 million.

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It was announced earlier today that The Rolling Stones will play their first ever concert in Austin on October 22 at Zilker Park.

Rolling Stones play Austin on Oct. 22

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The Austin Music Hall is set to undergo rennovations that will increase capacity and improve the quality of the shows at the venue. The planned improvements include:

- increase seating from 1,800 to 2,800

- increase overall capacity from 3,000 to 4,000

- addition of a new mezzanine

- new sound and lighting systems

- exterior improvements

- addition of a late night restaurant

Austin Music Hall will remain open during rennovations which should be complete next summer. The ~$5 million cost will be split among Direct Events and Novare Group & Andrews Urban, who are developing the 360 condominium tower next door.

image_4605000.jpg

Music Hall makeover

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They are actually working with the people from Novare on this project. Novare sees that it is important to not only enhance the Austin music Hall but to help them benefit from building their first tower next door from it.

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This years Austin City Limits Music Fest had on economic impact of $27.1 million, higher than last years $26.3 million. It is projected that next years ACL may have a bigger impact than the South By Southwest.

According to the Austin Convention & Visitors Bureau, the ACL Music Festival's economic impact has grown 374 percent since its inception five years ago, when the festival brought in $5.7 million. In fact, the three-day festival is close to having as significant an economic impact on Austin as South By Southwest, which brought in $38 million this year.

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