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Britt Has a Budget Deficit Despite Great Attendance
Comments 0 | Recommend 0Britt Festivals in Jacksonville is anticipating a budget deficit -- even with attendance levels higher this year.
The Festival, which presents a season of national touring music acts each summer in an outdoor amphitheater in Jacksonville and a larger facility at the fairgrounds in Central Point, closed its 2008 season last month with attendance at 69,000, an increase of about 17 percent over 2007.
But operating expenses were higher than ever. Britt officials say fiscal year-end results are likely to show a deficit of about 11 percent.
Results are in large part due to music industry changes, specifically higher artist fees, and a challenging economy.
Britt's 2008 artist fees were almost 33 percent higher than in 2007, amounting to the highest in Britt's history.
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