Electric Picnic Republic, the holding company for EP has declared profits for 2017 of €1.9m. Thats a five fold increase on the previous year. Attendance at the festival was raised in 2017 from 51,000 to 55,000 weekend tickets. Despite the larger attendance, the festival sold out in advance of any acts being named. The same happened this year and sales have been reported to be strong for next years Picnic.
With 2018 a decidedly mixed year for concert promoters in Ireland, the importance of cash cow events such as EP is pretty obvious. It seems likely that a number of high profile shows in 2018 were loss making. EP not only generates revenue, but by selling out up to 7 months in advance, it bank rolls a lot of other activity.
Cher Ching!
I will have a longer piece over the weekend on the LN-Gaiety results, which were published a little while back.









