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After ticket sales of £35m, Glastonbury reports profit of just £764,000
Administrative costs wiped out almost all profit
Prince: According to Michael Eavis, the reason Metallica were asked to headline Glastonbury last minute this year, was because Prince pulled out. Prince was apparently "really upset" that it began to leak that he was playing before negotiations were complete. He's clearly very flighty, so no one look at him or talk about him until he's 100% confirmed next year. OK?
Tags: Glastonbury Festival
by Alexandra Pollard | Photos by WENN
Tags: Glastonbury Festival
Despite selling out completely and reaffirming its place as the most important UK festival of the summer, Glastonbury festival only made a £764,000 profit last year.
That may sound like an amount not to be sniffed at, but the festival recorded tickets sales of £35 million, almost all of which was wiped out by costs.
As The Guardian reports, the family business had to pay land rent, stage hire, staff costs, management fees and compensaton for loss of farming earnings. It also donated £348,000 to charity.
Last week, 135,000 tickets for next year's Glastonbury went on sale on Sunday, and sold out in 26 minutes. At £225, that means ticket sales of just over £30 million.
Glastonbury's charitable donations are generally shared between three charities - Oxfam, Greenpeace and Water Aid.
Below: Who could play at Glastonbury 2015?
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