When you think of Forbes, you probably think of money, fame, power, and success so it shouldn\’t come as a surprise when the magazine decided to interview Pasquale Rotella, entrepreneur and founder of Insomniac.
The very first Insomniac event was far from what they have become today. Pasquale recalls the day when he was only 17 years old and hosted his very first Insomniac event in LA. He held the illegal parties every Friday at various warehouses and described it as being a \”weekly pop up underground party\” which he frequently got in trouble for. That is when Pasquale decided to turn his hobby into an official company which now hosts dozens of events all over the world such as Beyond Wonderland, Nocturnal Wonderland and EDC.
One may think that throwing such iconic and massive events turns out to be very profitable, however they are never easy and definitely come with a hefty price tag. Pasquale admits to spending over $30 million back in 2014 on EDC Las Vegas alone and lost $3 million back in 2011 during the first time EDC was brought to Las Vegas.
As Insomniac began to grow, he decided to partner with one of the largest entertainment companies in the world – Live Nation. Pasquale describes the relationship as being fairly new and admits the company has helped them expand outside of the US to Mexico and London in a years time. Things seem to be going well in the partnership as of now; for the two share the same visions. It will be interesting to see what develops in the years to come.
Watch the entire interview here.
Source: Forbes
