Venues at the Edinburgh Fringe are expecting a 25% drop in ticket sales this year compared to 2019, citing soaring accommodation costs as the primary cause. Eight major venues, including Assembly, Pleasance, and Underbelly, forecast selling 1,486,746 tickets, down from 1,965,961 in 2019.
EdFest.com, a collective of these venues, described the decline as a 'major threat' to their financial viability. A spokesperson highlighted that while the quality of the programme has been incredible, the soaring cost of accommodation in Edinburgh in August has priced out audiences and artists alike.
Accommodation costs have doubled compared to 2019, driven by changes in Scottish law banning fixed-term tenancies, leading to more students retaining housing over summer. Next year, restrictions on short-term lets will further reduce Airbnb availability.
William Burdett-Coutts, artistic director of Assembly, estimated venues have lost £7m in revenue due to the ticket sale drop, resulting in 'significant losses'. He noted that normally 10% of companies fail to cover costs, but this year it could be 60%.
The venues are calling for public support, including addressing accommodation costs and launching a major marketing campaign. Burdett-Coutts urged the Scottish government to adjust housing rules, such as an opt-out of the fixed-term tenancy ban for students and a six-week window for Airbnb licensing exemptions.
Shona McCarthy, chief executive of the Edinburgh Festival Fringe Society, described this year as a first step on a 'long road to recovery' in one of the most challenging summers on record. She emphasised the need to advocate for greater support for artists.
