Only half of Australia’s festivals profitable, says new report

More than one-third of festivals in Australia lost money in the 2022-2023 financial year, according to a new report from Creative Australia.

The report arrives in the wake of a rapidly diminishing 2024/25 festival season with the cancellations of Splendour in the Grass, Groovin The Moo, Coastal Jam, Summerground, Vintage Vibes, Tent Pole: A Musical Jamboree and ValleyWays.

Touted as the first widespread report of its kind, Soundcheck: Insights into Australia’s music festival sector explores the cultural, social, and economic impact of 535 music festivals held nationwide in the 2022-23 financial year.

Of those, more than one-third (35%) reported losses with a median deficit of $470,000 and eight per cent broke even, while more than half of the festivals surveyed (56%) turned a profit (with the…

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