“Festivals must diversify their financial models”

In recent years, a growing number of festivals have been forced to close their doors. This situation has been a long time coming.

Everybody focuses on Covid, Brexit, and increasing costs, but the inflationary pressure was coming even before that with the digitalisation of music, where artists were no longer making the bulk of their revenue from selling albums. The moment they started relying on touring, we started seeing performance fees creep up.

Putting on a festival is costing more…

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