Sziget Festival, one of Europe’s largest music festivals, has incurred losses this year, according to preliminary estimates, Est Media Holding, the listed owner of the event, has announced on Monday. In previous years the festival generated profit.
Est Media, however, emphasized that despite what looks like a loss at the moment, Sziget Kft., the organizer of the festival, will once again be in the black in 2011. The main factors behind the loss are the rise in costs and the insufficient rise in visitor numbers.
According to preliminary data, Sziget Festival (with official programs between the first and 8th of August) was attended by 380-390,000 people this year.
(source: portfolio.hu, MTI)
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