UK festival prices rise 24% in five years while Parklife sky rocket 300% since 2010

UK festival prices rise 24% in five years

 

The average festival will cost £165 this year for entry alone – ex all fees

Over the past 5 years, ticket prices have increased by an average of 24%

5 of the most expensive festivals of 2018 cost an average of 71% more than they did in 2010 – Parklife costs over 300% more

 

The cost of attending a summer festival in the UK is set to rise again in 2018. This year, a weekend ticket will cost Brits an average of £165 per single adult ticket. This is a 24% increase over five years, as the average price in 2013 was £133, and a 66% increase over the last decade.

 

The figures, collated by loans company Progressive Money, reveal the annual year-on-year price changes for top music festivals in the UK exclusive of booking fees, delivery charges and added extras.

 

From analysing 30 festivals taking place over the past eighteen years, the period between 2008 – 2012 was found to be especially popular as more than half (56%) of top weekend tickets had sold out during this period.

 

Between 2008 - 2012, ticket prices rose by 8% year-on-year, in comparison to 2013 – 2018 where the average increase slowed to 4%. In comparison, the UK rate of inflation rose at an average rate of 2.7% [1] between 2008 – 2017.

 

Tickets are not the only expenses for festival fans. Additional costs include gathering camping essentials for the trip. The cost for a two-man-tent, single sleeping bag, single airbed and camping pillow rack up an additional £82*. Added to the cost of a ticket, the average cost of attending a festival rises to £247, exclusive of travel costs, food, drink and souvenir budgets.

 

However, despite the figures, the UK’s top festivals are cheaper than Coachella, one of the most popular festivals in the US. In April 2018, standard weekend admission and camping tickets for Coachella started at $542**, or £381, which was 86% more expensive than an equivalent ticket to Leeds and Reading festivals.  

 

Commenting on the findings, Lynne Hardwick, Head of Marketing at Progressive Money, said: “Festivals are a great way to get outside and enjoy the summer but, with prices continuing to rise far beyond the annual rate of inflation, many are priced out of the market. This is particularly the case for young people where ‘the bank of mum and dad’ may increasingly be called in to help cover the costs.

 

Photo by Maxime Bhm on Unsplash

Want to stay up to date with the latest breaking news alerts?