Pleasance reveal £61k deficit as one of the Edinburgh’s leading Fringe venues

The Edinburgh Festival Fringe is facing problems over ever increasing costs for a major venue, and concerns have been risen that these financial losses may worsen due to the spiralling cost of living crisis.

The Pleasance Trust divulged that they have suffered a staggering £61,311 deficit in its latest set of accounts documented with Companies House.

Remanent effects of the pandemic and the climbing price of artists appearing at the Fringe are part of the “challenges” faced by the firm.

Director Anthony Alderson told The Scotsman the deficit “could well be larger” for the 2025 year, as the venue struggles with Edinburgh’s increasing inflation prices.

The 2024 accounts document a “marked reduction” in donations and grants received making the operation of Fringe venues challenging. This alongside the lingering effects of the pandemic have all attributed to the financial deficits faced by Pleasance.

Anthony told The Scotsman “The festival’s greatest threat is currently the costs of the city. It’s a challenging time for the Pleasance and the festival as a whole.”

He also said: “On the surface, it looks commercially successful; the reality is a very different story. Barely any of the £6.5 million annual box office stays within the Pleasance.” He went on to say “The deficit for 2024 was £61,000 – it could well be larger for 2025”.

In a statement regarding 2024 the company’s financial difficulties, chairman Richard House said the working climate “remains very difficult”, he continued: “Increasing accommodation, travel and production expenses have added financial strain on both performers and venues.

“For many artists, particularly those at the beginning of their careers, these obstacles pose a serious threat to participation and ongoing sustainability.”

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The company have been striving to explore new ways of generating profit by means of online and broadcast performance. Despite these efforts, it has been determined that these routes “remain modest” due to the audience’s larger appetite for live performance.

Unforeseen circumstances have also impacted The Pleasance this year, being faced with a weather warning and high winds on one day during the Fringe forced them to close and cancel 72 shows.

This closure’s financial impact on The Pleasance Courtyard would be “significant” as the director told The Scotsman.

There is also a growing concern that due to rising costs of attending and performing at the Fringe, it is becoming a more obscure event.

Underbelly bosses Charlie Wood and Ed Bartlam told The Scotsman in August that the Fringe was transforming into a “more Scottish festival” due to the financial challenges of attending the festival.

They went on to say that people further away from the city were finding it difficult to attend due to costs, and that more tickets were being sold to Edinburgh locals and surrounding Scots.