HullabaLOU Music Festival in Louisville, Ky., Lost $5 Million in Its First Year

The HullabaLOU Music Festival in Louisville, Ky., lost $5 million in its first year, according to the Louisville Courier-Journal. The three-day event at Churchill Downs drew 78,000 people and featured country artists like Kenny Chesney, Sara Evans, Loretta Lynn, Dwight Yoakam and Zac Brown Band, along with numerous pop and rock acts including Bon Jovi and Dave Matthews Band. However, the organization cited hot weather, low ticket sales and a declining concert industry as factors in the financial loss, which was about twice the amount they expected to lose. The company is committed to a second year of HullabaLOU, but organizers said that the timing, the length of the festival and the talent lineup will be reviewed before the 2011 event.