The organisers of PennFest recently announced that the festival will not take place in 2024 due to a challenging economic climate. The organisers shared on their official website that the increasing cost to deliver the quality of the event that customers expect, coupled with the current difficult trading conditions, made it impossible to continue. The team behind the festival has put in years of hard work to create an unforgettable experience for the community, and there is deep sadness among the team due to the cancellation.
In addition to PennFest, many other festivals in the UK and abroad have also cancelled or postponed their events, which is disappointing news for the music, arts, and cultural sectors. A reduction in the value-added tax (VAT) to 5% on festival tickets over the next three years could provide some relief to festival businesses. The Association of Independent Festivals (AIF) has stated that without government intervention, over 100 festivals might disappear permanently.
The need for intervention has been emphasized by AIF CEO John Rostron, who has suggested that a reduction in the VAT could be enough to save most festival businesses that are at risk of failing this year. This measure will not only keep existing festivals afloat but create new opportunities for emerging artists. The erosion of cultural industry sectors is a worrying trend that needs attention, and government intervention is essential to support sustainable growth in the music, arts, and cultural sectors.
Despite the devastating news, the PennFest team is committed to making a strong comeback and delivering high-quality experiences in the future. Meanwhile, this year’s ticket holders can request refunds, or they can choose to roll over their tickets to the 2025 event. Plans for next year’s festival will be announced in the summer, and the team is optimistic about the possibility of resume the festival in a more financially stable environment. As seen from the current prevailing conditions, it is apparent that more work is required to ensure the growth of cultural industry sectors
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