Profits of Glastonbury in 2024 Totaled Up to $7.3 Million
*Featured Cover Photo Credit: Glastonbury / Getty Images
Glastonbury, one of the world’s most-famous contemporary arts festivals, reported profits up to $7.3 million (or £5.9 million) in 2024. According to an article from DJ Mag, the festival’s profits for 2024 surpassed 2023’s profits, which were $3.6 million (or £2.9 million). One of the U.K.’s well-renowned newspapers, The Evening Standard, stated that the profits were from Companies House accounts that Glastonbury filed for the 2023-2024 tax year ending in May 2024. The $7.3 million/£5.9 million that Glastonbury gained were pre-tax profits. Later, the festival then donated $6.4 million/£5.2 million to charities such as Oxfam, Greenpeace, and WaterAid. The festival’s overall revenue for the whole year of 2024 was $84.9 million (or £68.4 million), an increase of 20% from 2023.
Criticism of the festival and upcoming goals in the next couple years
The revelation of the profits that Glastonbury gained in 2024 comes after the legendary singer-songwriter Neil Young announced that he and his band decided to pull out of the 2025 edition’s lineup. Young mentioned the reason for the pullout was that him and his band had the festival organizers telling them to “do a lot of things” they did not have any interest in doing. The artist also said, “We will not be playing Glastonbury on this tour because it is a corporate turn-off, and not for me like it used to be.”
One drawback from the 2024 edition that affirmed Young’s statement was that the smaller stages drew a lot of criticisms from fans for attracting overcrowdness. To address the issue (and other issues that affected last year’s edition), Glastonbury co-creator Michael Eavis said that the festival will undergo a “fallow year” in 2026, which is to allow the farmland on the festival grounds to recover. This makes sense since the festival organizers just purchased more land last June by spending $4.5 million (or £3.7 million). The steps that Glastonbury is taking may possibly ensure that the festival will see more profit increases as a result of these very significant additions to the festival experience for many of the attendees who plan on attending in the next couple years.
Glastonbury spokesperson speaks on the gained profits
“We were pleased to enjoy successful, dry Glastonburys in both 2023 and 2024. This has enabled us to continue to rebuild the event’s vital financial reserves, while also allowing us to continue to support good causes and charities.”
