Drumshanbo has a rising population of over 1,000. In the third week of July, the town accommodates the Joe Mooney Summer School for Irish Music. This festival is now in its sixteenth year and brings together Irish music enthusiasts from all over the world. As the name suggests it is a memorial and tribute to the late Joseph Mooney, County Councillor and townsman who did so much to support the cause of Leitrim and his beloved town.
The An Tostal festival in June also has an importance on Irish music and culture. This was established nationwide in the 1950s by Bord Failte as a tourist promotion to encourage emigrants home. Drumshanbo is the only location in Ireland where it has survived into the 21st century.
The Sliabh An Iarainn Walking Festival takes place April 11 and 12, 2015. There are two days of graded A, B, C walks for walkers of all abilities.