Christopher BarrettOn the back of AIF CEO Paul Reed’s suggestion that the festival industry should come together to collectively back a consumer education campaign highlighting the fact that festivals offer great value for money, Engine No. 4 director Jon Drape (pictured far right) has said festival ticket prices have long been too low.
Speaking at the UK Event Summit in Manchester today, 26 October, Drape said festivals have always been an “undervalued sector” and that on the back of a 20% supply chain cost increase this year, and a further 10% hike in costs expected in the year ahead, festival ticket prices will have to rise across the board.
“Festival tickets have always been too cheap,” said Drape. “Trying to get that ticket price correction is going to be increasingly difficult given the cost of living crisis. Glastonbury may have helped us by coming up with quite a punchy ticket price rise, getting quite a few headlines and starting a conversation in the mainstream press about the cost of delivering a festival. But I think it’s going to be difficult for some parts the market next year in terms of achieving the revenue to make it stack up.”