Axed Pemberton lost “several million” in 3 years
Huka Entertainment's now-cancelled Pemberton Music Festival owes creditors $2.5m after incurring significant losses every year since its debut in 2014
News By | 22 May 2017
Canada’s Pemberton Music Festival, which filed for bankruptcy on Friday, has burned through “several million” US dollars in cash losses since its debut three years ago, according to administrator Ernst & Young (EY).
Pemberton Music Festival (PMF), which was revived by Huka Entertainment in 2014 after a one-off outing with Live Nation in 2008, was the biggest music festival in British Columbia, attracting close to 180,000 attendees last summer.
Despite increasing revenue from ticket sales ~100% year on year from 2014 to…
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