Glastonbury’s Profits Surge to £5.9 Million in 2024, More Than Doubling Previous Figures.

Glastonbury’s Profits Surge

Glastonbury’s profits more than doubled last year to £5.9 million.

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The festival, returning to Worthy Farm in Pilton, Somerset, from June 25 this year, made £5.9 million in pre-tax profits for the year ending March 2024, a significant increase from £2.9 million the previous year, according to the data. BBC News.

During the same period, the event contributed £5.2 million to charities such as Oxfam, Greenpeace, and WaterAid.

This information was shared by a festival representative, indicating that “high and dry Glastonburys in both 2023 and 2024” have played a crucial role in “rebuilding the event’s vital financial reserves” after suffering record losses during the pandemic, including cancellations in 2020 and 2021, which cost the festival millions.

Financial Overview and Ticket Information

According to Companies House accounts, Glastonbury’s profits are relatively modest compared to its total revenue of £68.4 million, which reflects a 20 percent increase from the year prior. A report in 2023 assessing the event’s economic impact found it generated approximately £168 million for UK businesses.

The company also invested £3.7 million in land purchases in June 2024.

The figures come after Neil Young stated that he has decided to withdraw from Glastonbury 2025, believing it to be a “corporate disappointment.”

He remarked, “Chrome Hearts and I were eager to perform at Glastonbury, one of my all-time favorite outdoor shows. We were informed that the BBC was now a partner in Glastonbury and wanted us to participate in several things we weren’t interested in.”

“Glastonbury appears to be under corporate control now, which is not how I remember it,” he continued. “Thank you for a last visit!

“We will not be performing at Glastonbury on this tour due to it being a corporate shutdown and not the same as before. I hope to see you at one of the other tour locations.”

Glastonbury has yet to respond to Young’s comments, and it remains uncertain what inquiries the BBC made to him. NME has reached out to Glastonbury for a response.

Young headlined the Pyramid Stage in 2009, having been scheduled to perform 12 years earlier but had to withdraw due to injury. Currently, no artists have been confirmed for this year except for Rod Stewart, set to perform in the Sunday afternoon Legends slot. Nile Rodgers & Chic have also confirmed their return to the festival this summer.

Numerous prominent names, including Young, have been rumored as potential headliners. It now appears the rock legend had initially agreed to be part of the lineup but later reconsidered.

Other speculated headliners include Olivia Rodrigo, Sam Fender, The 1975, Taylor Swift, and Stevie Wonder.

Tickets for Glastonbury 2025 sold out within just 32 minutes in November, with the festival employing a new ticket queuing system.

For those who missed out on tickets this week, resales typically occur in the spring, although they also tend to sell out quickly—with bus and ticket resale packages going in just 18 minutes this year, while general resale tickets sold out in 22 minutes.

The 2024 festival features headliners Dua Lipa, Coldplay, and SZA, along with other exciting performances from Shania Twain, Little Simz, Fontaines DC, and IDLES.

Glastonbury will observe a fallow year in 2026.