How are they spending the extra £7 million in ticket income?

[Leyrulion]

135,000 tickets at £335 compared to £280 by my maths gives roughly £7.4 million extra for the festival. 

Do we think this is all extra costs to keep it as is, or does that give scope for new stuff?  

How much is festival infrastructure actually going up by, anyone in the know?

How would you spend it if you were in charge?

[leath02]

Fuel

[CaledonianGonzo]

Maybe repairing the hole in the finances caused by the cancellations of 2020 and 2021.

[Crazyfool01]

inflation over 3 years 

[Neil]

1 minute ago, Leyrulion said:

135,000 tickets at £335 compared to £280 by my maths gives roughly £7.4 million extra for the festival. 

Do we think this is all extra costs to keep it as is, or does that give scope for new stuff?  

How much is festival infrastructure actually going up by, anyone in the know?

How would you spend it if you were in charge?

It's not just infrastructure, bands and djs will be charging more. Like the infrastructure they've got a few no work covid years to pay for. 

[Supernintendo Chalmers]

Mould protection for Genosys 

[Crazyfool01]

1 minute ago, Supernintendo Chalmers said:

Mould protection for Genosys 

might be too late and a replacement needed ? 

[Skip997]

2 minutes ago, Neil said:

It's not just infrastructure, bands and djs will be charging more. Like the infrastructure they've got a few no work covid years to pay for. 

Plus qualified non volunteer crew, e.g. electricians, riggers etc

[Supernintendo Chalmers]

6 minutes ago, Leyrulion said:

135,000 tickets at £335 compared to £280 by my maths gives roughly £7.4 million extra for the festival. 

Do we think this is all extra costs to keep it as is, or does that give scope for new stuff?  

How much is festival infrastructure actually going up by, anyone in the know?

How would you spend it if you were in charge?

Fireworks 

[Crazyfool01]

Michael should buy himself a new swimming pool ..... 87 fair play to the guy happy birthday Michael 

[Supernintendo Chalmers]

3 minutes ago, Crazyfool01 said:

might be too late and a replacement needed ? 

Ahhh, it's nothing a touch of Cillit Bang can't remove 

[Crazyfool01]

Just now, Supernintendo Chalmers said:

Ahhh, it's nothing a touch of Cillit Bang can't remove 

bang and Genosys is gone 

[Ayrshire Chris]

Inflation, fuel costs and wages. And Michaels dream of Fleetwood Mac.  

[mph]

Filling in the tunnels and getting a bigger superfence would be a good investment 

[Ayrshire Chris]

Its Happening! 

[gfa]

21 minutes ago, Crazyfool01 said:

inflation over 3 years 

This was covered by the rise between 2019 t day and 2022 balance payments surely

[Crazyfool01]

4 minutes ago, Ayrshire Chris said:

Its Happening! 

My first thought … decided not to post it because of environmental impact of monorails 

Edited October 17, 2022 by Crazyfool01

[Hugh Jass II]

Simple answer is everything is about 20% more expensive than it was three years ago.

[clarkete]

26 minutes ago, Neil said:

It's not just infrastructure, bands and djs will be charging more. Like the infrastructure they've got a few no work covid years to pay for. 

Plus any of them that come from the US or EU are suddenly more expensive due to our paltry currency 

Got a big dent in the reserves to repair too. 

Edited October 17, 2022 by clarkete

[dotdash79]

2 minutes ago, Hugh Jass II said:

Simple answer is everything is about 20% more expensive than it was three years ago.

Agree real inflation is around 20% at the moment. This allows the festival to stand still. 

[Supernintendo Chalmers]

3 minutes ago, Hugh Jass II said:

Simple answer is everything is about 20% more expensive than it was three years ago.

I heard Michael is spending it on becoming the biggest man in the world and covered in gold for his 87th birthday 

[incident]

Pedantry here - but it's not 7.4 million extra income.

Most importantly, you're looking at the numbers with VAT included - and VAT isn't like for like in this case

For the 2022 Festival, the deposits at £50 each would have been at 5% VAT (ie. why everyones deposit was "transferred" to a fresh order in September 2021, to get it on the books at 5% before the rate went up in October). The balance payment of £230 would have been at 12.5% VAT (as discussed plenty on here, the reason the window was a month earlier than usual). So assuming 135k tickets sold at £280, that's a net take of, according to the half arsed spreadsheet I just put together, 34,028,571.43.

For the 2023 festival, it's a bit easier - everything will be a flat 20% (unless the govt change it again before April), so the net income from 135k tickets at £335 would be £37,687,500.

So the actual increase in ticket revenue for the festival is £3,658,928.57.

To put it another way - more than half of that £7.4 million is going to the government.

[Dukeicon]

35 minutes ago, Leyrulion said:

135,000 tickets at £335 compared to £280 by my maths gives roughly £7.4 million extra for the festival. 

Do we think this is all extra costs to keep it as is, or does that give scope for new stuff?  

How much is festival infrastructure actually going up by, anyone in the know?

How would you spend it if you were in charge?

£1.2mil of that is VAT.

Generators can no longer run on Red Diesel, so have to run on Diesel or Bio Diesel sine April 2022 at the current higher prices, so this is a significant cost increase.

Things like tent hire and scaffold have gone up considerably
Generally, the price of everything has gone up.

Lots of people left the industry when COVID hit and got other jobs and haven't returned.

Quote

“We’re very pleased to be fully operational after two years of complete or partial shutdown,” said Paul Reed, CEO, Association Of Independent Festivals. “But there are a lot of challenges and very difficult trading conditions. We’re seeing 30% increases in infrastructure costs, or more in some cases, which is beyond the extraordinary rise in inflation in the wider economy.

https://www.musicweek.com/live/read/why-inflation-has-become-the-next-big-test-for-the-festival-sector/086312

 

[incident]

Should point out before someone else does - those numbers for 2022 are only properly correct if all tickets were normal - ie nobody cancelled and so no tickets went via the resale, or whatever. But the point broadly still stands. It'll still end up being reasonably close.

[Suprefan]

 The money goes to just cover regular costs since those went up. Theyre keeping their head above water with the increase. Now Im curious when they officially state the price and what reaction comes with it.