Summer music festivals continue to grow in popularity. For example, Chicago's Lollapalooza festival this August sold out in a record 20 minutes, Bonnaroo draws fans from all 50 states, and this year's Jazz Fest in New Orleans was attended by 10,000 more fans than last year's. Small to midsize festivals have seen the biggest growth, with a huge influx in audience demand for country music, overtaking EDM as "the fastest-growing sector of the festival business," says Billboard's Ray Waddell. He notes that after a decade of strong growth, the festival has taken off in the past years. However, with so many festivals vying for an audience, the live-music industry may lose money if promoters are not careful, cautions AEG Live senior vice president Joe Litvag. "At some point, we're going to get so overloaded with festivals, everybody's numbers are going to drop considerably," he says. "Part of the reason why some festivals have been as successful as they've been is due to the fact that there wasn't one in every city.