OLDCHELLA TO GROSS $160M, PROMOTER REPORTS

AEG Live/Goldenvoice’s Paul Tollett tells The New York Times his Gotham festival Panorama won’t be a sell-out this weekend, but that his “oldchella” with Paul McCartney, The Rolling Stones and Roger Waters will see a gross of approximately $160m from its two weekends in October.

“It’s not really a festival — it’s a concert, two bands a day,” he says of shows in Indio, Calif., that have Bob Dylan, Neil Young and The Who as opening acts. “I just thought those six bands should play together. It’s never been done. It turned out to be the highest-grossing show by far. It beat No. 2, which is Coachella, by far.”

Forbes reported earlier this year that the 2015 edition of Coachella raked in $84.26m, the largest box office take in US. festival history. It was more than triple the #2 festival.

New York City has been late to the festival circuit, though multi-act, multi-day events have increased dramatically in the last few years thanks to events such as Governors Ball on Randalls Island, which Live Nation recently acquired. The bill for Panorama, also on Randalls Island, includes LCD Soundsystem, Kendrick Lamar, Arcade Fire, Alabama Shakes and a high-tech exhibition.

“We’re just throwing it out there and letting people experience it, and hopefully it will build over the years,” Tollett says. “We have some things that we’re bringing in that are really going to turn heads, like the technology.”