Glastonbury Festival Made £86,000 Profit In 2014

Glastonbury Festival recorded a modest pre-tax net profit of £86,000 on turnover of £37.4 million in 2014, according to publicly available accounts filed with Companies House.
The company – Glastonbury Festival 2015 Limited – made charitable donations of £695,974 during the year – up from 348,000 in 2013. Other outgoings included £1.5m on payroll and £500,000 to Michael Eavis’s farming company as compensation for loss of earnings and wear and tear as a result of the farmland being used for the festival.

Company directors Eavis and Live Nation’s Paul Latham were each paid £60,000, but the vast amount of turnover is spent on running costs.

Arcade Fire, Metallica and Kasabian headlined the 2014 event, with other acts including Dolly Parton. Advanced ticket sales for 2015 brought in £6.8m.

Source: Music Week
Image: Creative Content