As in earlier years, ticket sales are set to generate 75% of revenue while sponsorship and catering each account for 10-12%, he said. State support makes up 1% of revenue, he added.

“On the expenditure side, programme costs continue to make up the biggest item, followed by technical costs. The most expensive acts at this year’s festival are, naturally, Rihanna and the returning Muse,” Gerendai said.

The paper noted that week passes for the Sziget Festival, which will take place on August 10-17, were sold out already at the end of June.

Punters have greater spending power and festival-going has become “an integral part” of young people’s lives, he said. “That’s a global trend that Hungary is a part of.”

Republished with permission of Hungary Matters, MTI’s daily newsletter.