In Business This Week: HEADLINER
THE WOODSTOCK GENERATION--OF REVENUES
Call it a Nineties thing: The commercialism that went into Woodstock '94 was as naked and unapologetic as some attendees. So just how many bucks did "Three More Days" of love and music spin for its backers? PolyGram Diversified Entertainment estimates that the big gig cost $30 million to produce, plus some hefty consideration for the musical talent. Ticket sales certainly didn't pay those bills: Only 190,000 of the $135 passes were sold--and the host town of Saugerties, N.Y., got 4% of the take. Fewer than 250,000 cable customers, moreover, plunked down $50 to dig the concert in the mud-free confines of their own homes.
But corporate sponsorships and fees for on-site food and souvenir franchises brought in millions. Official $25 Woodstock T-shirts sold out. And there are still profits to be had. Look for a concert CD by October, a music video by yearend, and maybe a film down the road, says PolyGram. "Everyone is very optimistic that this was a money-making event," says a spokeswoman. Peace, love, and tie-ins, man.EDITED BY KEITH H. HAMMONDS By Julie Tilsner