More than 100 festivals could vanish in 2025 delivering a devastating blow to the UK music industry unless chancellor Rachel Reeves delivers the lifeline of a temporary VAT reduction on ticket sales.

Whilst the mega festivals such as Glastonbury and Reading & Leeds continue to rake in huge profits with record ticket sales, those further down the ecosystem are struggling to survive.

The worrying development was revealed in the UK Music annual report This Is Music 2024

Which revealed the huge…