MORE than 100 festivals could vanish in 2025 delivering a devastating blow to the UK music industry unless Chancellor Rachel Reeves delivers the lifeline of a temporary VAT reduction on ticket sales, claim experts.
While mega festivals such as Glastonbury and Reading and Leeds rake in huge profits, smaller gatherings are struggling.
Crunch
The worrying development was highlighted in the UK Music annual report This Is Music 2024, which revealed the £7.6billion contribution the industry makes to the economy.
Yet while major acts blossomed with Elton John, Blur, Pink and Ed Sheeran all playing big UK shows significant challenges threaten the UK's world-leading status.
This story is from the November 25, 2024 edition of Daily Express.
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This story is from the November 25, 2024 edition of Daily Express.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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