Isle of Wight festival increases profits despite fall in attendance

Festival made 3.4m profit in 2024, generating 2.6m dividend for its parent company, part of Live Nation

Pet Shop Boys and The Prodigy helped the Isle of Wight music festival increase its profits last year, generating a 2.6m dividend for its parent company, a division of the events industry's biggest player, Live Nation.

In a year when many smaller music festivals lost money or were cancelled amid wet weather and soaring costs, the summer showpiece on the island, a ferry ride across the Solent from England's southern coast, managed to prosper.