Oktoberfest: Making Money Off of Tradition
Oktoberfest began as a raucous wedding celebration in Germany more than 200 years ago and has since grown into a worldwide phenomenon. Munich, alone, hosts some 6.4 million guests (who consume almost 8 million liters of beer) during the festival each year. Harvard Business School professor Juan Alcacer discusses how the Oktoberfest brand has been transplanted around the globe, whether copycat festivals help or hurt its reputation, and to what extent its original hosts could or should be profit-motivated.