Glastonbury Nets £764,000

Last year’s Glastonbury Festival made £764,000 ($1.2 million) despite ticket sales worth £35 million ($56.4 million), according to accounts filed at Companies House. 

Photo: Joel Ryan/Invision/AP
Fans enjoy the sunny weather at Glastonbury June 25 before the first full day of music launches Friday.

Artist fees, production, security and administrative expenses wiped out more than 95 percent of the festival’s income.

The 140,000-capacity selllout event in 2013 had The Rolling StonesArctic MonkeysDizzee RascalPrimal ScreamNick Cave & The Bad Seeds, and Vampire Weekend. Among the costs were various payments to companies linked with Glastonbury chief Michael Eavis, which totalled £2.6 million ($4.2 million) and included compensation for loss of the farm’s earnings, site rent, Pyramid stage hire, staff costs and management fees.

During the year Eavis’s business also gave £348,000 ($561,000) in charitable donations. In 2012 the festival firm lost £544,000 ($887,000), when Eavis gave the festival a fallow year to avoid clashing with the London Olympics.

In 2011, the festival made a profit of £1.8 million on revenues of £32 million.

The accounts also show that by the end of 2013, Glastonbury was sitting on £6.58 million ($10.6 million) from ticket sales for this year’s event, which was June 25-29 and had a lineup that included Arcade FireDolly PartonKasabianPixiesElbowJack White, The Black Keys, SkrillexJake BuggKaiser Chiefs, and London Grammar.

Tickets for Glastonbury 2015 went on sale a week ago at £225 ($363), with all 135,000 sold in a record-breaking 27 minutes. So far no acts have been announced but the rumour mill is saying Queen and Fleetwood Mac could be among the headliners.