Festival 'is far too valuable for us to let it decline' says outgoing boss

The charity that organises the Edinburgh Fringe has warned that it is in a ‘perilous’ financial position as it reports yet another loss.

According to figures published today, The Edinburgh Festival Fringe Society lost almost £250,000 in the last year, on top of a £613,000 loss the previous year, meaning it has been operating at a loss since the Covid pandemic. 

Its annual review stated ‘we are committed to ensuring participation is affordable’ – but added: ‘This has been harder to achieve in recent years as costs have risen exponentially and Scotland’s economy has strained.’

It comes as comedians and other artists who take part have found it increasingly unaffordable to attend the annual event, thanks to spiralling accommodation costs due in part to changing regulations.

The report confirms that 2.6 million tickets were sold to 3,746 shows at the 2024 event,  More than 1,800 accredited industry personnel from 64 different countries attended – a 30 per cent  increase on with the 2023 festival.

Shona McCarthy, who will step down as chief executive of the Fringe Society in March, said: ‘It just highlights how important the Fringe is to so many people. For all its challenges and difficulties, it is this amazing thing that people want to be part of.’

An end-of-Fringe survey found that 79 per cent of audiences agreed that the Fringe ‘is one of the most important cultural events in the world’, and 83 per cent said they are likely to visit the Fringe again in 2025.

McCarthy, pictured above, has repeatedly called for funding from the Scottish Government. 

And in the  annual review, she wrote: ‘Warm words do not support our vital cultural life and creativity.  Warm words do not provide platforms for Fringe artists on a global stage.  Warm words do not help communities and audiences experience an event of global significance, on an Olympic scale, on their own doorstep.  Now is the time to step up and work collaboratively to secure the future of this signature event for Scotland. ’

’It itakes a cast of thousands to pull this thing off, and collective effort is needed to ensure its future. The Fringe is far too valuable – not just to livelihoods and economically, but on a much more profound, human level – for us to let it decline.’

Despite the leak financial outlook, the  Fringe Society is opening new headquarters, funded by £7 million from the UK government, late next year.

Published: 26 Nov 2024