Music Festival News

It has been revealed that Glastonbury in 2008 did not make a profit. The festival organisers put costs at £22M to stage the event in 2008. They still gave away £1M to charities but after that there was nothing left in the pot.

It may sound like a big surprise that an event that holds over 100,000 people could fail to make a profit but this years festival didn’t manage to sell out and the price of everything this year started to spiral, The costs of diesel alone to run the festival this year rose by £200,000 which by anybody’s standards is a staggering amount.

This is a trend that has been repeated through many festivals this year as the Bestival organisers confirmed, Its not the type of thing you do to make loads of money its something that is done more out of the love to put on such shows.

Being up beat the Glastonbury organiser did keep it real, Not making a profit for the first time in £39 years is pretty good going, Lets see if they are saying that this time next year if they continue not to make a profit!