Glastonbury pulled in a poor profit of just £764,400 last year despite raking in £35 million in ticket sales, it has been revealed.
The festival, organised by Worthy Farm owner Michael Eavis, suffered under the weight of a heap of costs and expenses, pulling in under £1 million despite boasting the likes of The Rolling Stones and Arctic Monkeys as headliners. Records filed to Companies House indicated that £2.6m was paid out to companies owned by Eavis and his relatives, while land rental, the hiring of the Pyramid Stage and charitable donations worth £348,000 also contributed to the small profit.
The festival’s earnings were also not helped by Eavis choosing to not host the festival in 2012, a move which was attributed to the cost of portable toilets rising in the wake of the London Olympics. The company posted a loss of £544,000 due to this.
Fortunately for Eavis & co. ticket sales for Glastonbury 2015 sold out faster than ever, despite there being no confirmed acts for the weekend-long event. With the festival once again back in full swing following its year of absence, this could be what Glastonbury needs to start making big profits again.
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