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Glastonbury Pageant has reported earnings greater than doubled final 12 months, because the occasion faces criticism for being too company.
The pageant introduced in £5.9 million in pre-tax revenue for the 12 months to March 2024, up from £2.9 million the 12 months earlier than, in line with accounts filed with Firms Home.
Glastonbury gave £5.2 million to organisations together with Oxfam, Greenpeace and WaterAid in the course of the interval, persevering with its coverage of handing most of its revenue to charitable causes.
However it’s nonetheless dealing with criticism by musician Neil Younger for being “below company management” of the BBC.
The Canadian singer-songwriter, 79, who headlined the pageant in 2009, stated he and his band have been advised to “do a number of issues” they weren’t serious about.
He stated: “We is not going to be taking part in Glastonbury on this tour as a result of it’s a company turn-off, and never for me prefer it was.”
The BBC is the unique broadcast accomplice of Glastonbury and has labored intently with the pageant since 1997.
Nonetheless, the pageant additionally has partnerships with corporations together with the Co-op and telecoms big Vodafone.
Regardless of the musician’s criticism, Glastonbury’s earnings stay comparatively small compared with its general income, which was £68.4 million, a 20% rise on the 12 months earlier than.
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In 2023, pageant commissioned a report back to gauge its financial influence domestically and throughout the UK, which discovered it generated about £168 million for UK companies.
The occasion has additionally needed to get better from not having the ability to go forward throughout Covid-19, with the 2020 and 2021 editions of the pageant not taking place.
Organisers haven’t but revealed who will headline the pageant in 2025, besides that Sir Rod Stewart will likely be performing.
Glastonbury is planning on taking a fallow 12 months in 2026 to permit the farmland to get better, co-creator Michael Eavis stated final 12 months.
Mr Eavis has handed the day-to-day working of the pageant to his daughter Emily lately, however formally transferred his monetary shares within the firm to her in October 2024, the accounts present.
The corporate spent £3.7 million on shopping for land in June 2024.
The occasion welcomed about 210,000 folks to Worthy Farm in Somerset final 12 months, with headliners Dua Lipa, Coldplay and SZA.
Glastonbury Pageant has been approached by PA for remark.
