Looe Music festival

Gone the same way as Akkeron and Brent by the looks of it. As the company has gone bust and the tickets were £99 (£1 short of section 75) then it will be pretty difficult for let down punters to get their money back.

https://www.cornwalllive.com/news/cornwall-news/live-updates-shock-grows-over-1965579

Would imagine most of the bigger acts had their fees paid in advance ?? Someome mentioned Bryan Ferry was appearing he certainly doesnt appear for £10,000 thats for sure
Unfortunate for fans who had booked flights and accomodation as well

harvetheslayer wrote:

Would imagine most of the bigger acts had their fees paid in advance ??  Someome mentioned Bryan Ferry was appearing he certainly doesnt appear for £10,000 thats for sure
Unfortunate for fans who had booked flights and accomodation as well

Will almost certainly be the smaller acts that have gone unpaid. As with any festival, the bigger well known acts will almost certainly be hired through their management and PR companies who will normally take a fee upfront, normally upwards of 25%.
Unfortunately Looe's downfall is a victim of it's own success and they've hit their ceiling capacity so can't just sell more tickets and the only way to make it financially viable is to drastically increase ticket prices or reduce the amount or quality of the acts, both of which could backfire. Due to the nature of the venue they are severely limited by the capacity and also have very little scope from bar and catering revenue as most of it is taken by the local town centre traders which was the main reason for the festival in the first place was to bring trade to the town for the start of the quieter months, for most festivals the catering revenues are the profit with ticket revenues just covering the costs.

Bob Crow wrote:

harvetheslayer wrote:

Would imagine most of the bigger acts had their fees paid in advance ??  Someome mentioned Bryan Ferry was appearing he certainly doesnt appear for £10,000 thats for sure
Unfortunate for fans who had booked flights and accomodation as well

Will almost certainly be the smaller acts that have gone unpaid. As with any festival, the bigger well known acts will almost certainly be hired through their management and PR companies who will normally take a fee upfront, normally upwards of 25%.
Unfortunately Looe's downfall is a victim of it's own success and they've hit their ceiling capacity so can't just sell more tickets and the only way to make it financially viable is to drastically increase ticket prices or reduce the amount or quality of the acts, both of which could backfire. Due to the nature of the venue they are severely limited by the capacity and also have very little scope from bar and catering revenue as most of it is taken by the local town centre traders which was the main reason for the festival in the first place was to bring trade to the town for the start of the quieter months, for most festivals the catering revenues are the profit with ticket revenues just covering the costs.

I think well see lots of festivals close in the next year or two including some biggies, over saturated market. As Bob says Looe was always going to struggle to pay it star acts. A good model for them to follow would be the Dartmouth music festival, its all about the town all acts are paid at a rate of £50/performer per show. Sure they don't attract the big names but they get a lot of support for what they do with lots of quality on show.