Summer music festivals complain that their golden times are over
Summer music festivals complain that their golden times are over. They find it ever more difficult to get sponsors and high competition reduces visitor numbers. The largest festival, Pohoda, posted a €0.1m net profit last year thanks to a 22% increase in sales to €4.3m. Royalties for artists account for 40% of total costs and technical equipment for another 40%. Back in 2014, sponsors covered half of the Pohoda’s total budget, but just 38% in 2016. This year, sponsorship fell even further. The second largest festival, Grape, gets 30% of its revenues from sponsors.
