Glastonbury revenues rise
Tuesday 09 October 2012
The Glastonbury Festival, which sold out next year's event in a record time of one hour and 40 minutes, yesterday underlined what a cash cow it is.
Newly published accounts for Glastonbury Festival 2011 Ltd showed revenues of £32.2m, up 5.2 per cent on a year earlier.
Despite the recession and tough times for many other music festivals, turnover has grown steadily in the past four years from £23.6m in 2008, an increase of 36 per cent.
Its founder Michael Eavis and his daughter Emily, who are both directors, are known for running their five-day festival at only a small profit and eschewing most commercial sponsorship.
But gross profits still rose to £22.5m in 2011 against £21.7m a year earlier. Pre-tax profit slipped to £1.8m from £2.6m after expenses.
The highest-paid director earned only £60,000. Mr Eavis also receives £500,000 for renting his farm in Somerset for the festival because of "loss of earnings".
- 1 Half of young women unable to ‘locate vagina’ and 65% find it difficult to say the word
- 2 Perez Hilton apologises for Jennifer Lawrence naked photo leak
- 3 A teacher speaks out: 'I'm effectively being forced out of a career that I wanted to love'
- 4 Mexican woman becomes world’s 'oldest person' at 127
- 5 Jennifer Lawrence 'naked sex video' will be leaked threatens 4Chan celebrity photo hacker
Rotherham child sex abuse scandal: Labour Home Office to be probed over what Tony Blair's government knew - and when
What do immigrants really think of Britain? Polish immigrant's Reddit post goes viral
Ashya King: Parents of five-year-old boy refused permission to visit him in hospital and denied bail at Spanish court
With Douglas Carswell joining Ukip, my party has taken another giant step forward
When elitism grips the top of British society to this extent, there is only one answer: abolish private schools
Ukip Douglas Carswell defection: Tory MP jumps ship to join Nigel Farage
iJobs Money & Business
£40000 - £50000 per annum + benefits+bonus+package: Harrington Starr: SQL Impl...
£85000 per annum: Harrington Starr: Head of IT (Windows, Server, VMware, SAN, ...
£40000 - £50000 per annum: Harrington Starr: You will not be expected to hav...
£500 per day: Harrington Starr: SQL DBA/Developer SQL, C#, VBA, Data Warehousi...