Festivals are big business

The mercury has risen and the floral headbands are out – it must be festival season again! From Glastonbury to Festival No 6, festivals have more creative and diverse offerings than ever before.

Research by Oxford Economics, on behalf of campaign group UK music, found that festivals and concerts contributed £2.2bn to the UK economy in 2012. The figure included ticket prices but also ancillary spending such as transport, accommodation and food. However, with over a 1000 events in the UK  jostling for an audience each year and the rocketing performance fees of artists, balancing the festival books is harder than ever. We look at the festival economy and its value to the UK.

This is a sneak peek of Accounting Technician’s cover story for its July/August issue landing on your door steps 15th July. If you’re a member you can access the magazine online here.

AAT Comment offers news and opinion on the world of business and finance from the Association of Accounting Technicians.