Monday, October 4, 2021

Burn Rate


Desperate for cash, the organizers of Burning Man are auctioning art to stay afloat another two months, according to Billboard.

The event operator has partnered with Sotheby's to sell 100 works of art, so it doesn't go under before it can begin to sell tickets for its 2022 event. Prices for the art reach into the tens of thousands of dollars.

Burning Man, which normally attracts 70 thousand attendees and generates $43 million in registration fees, has cancelled its annual event two years in a row. 
CEO Marian Goodell told Billboard his company was in "dire straits."

Will other event organizers follow suit?

Talk about a fire sale!
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