Credit crunch claims festival

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The economic downturn has claimed another victim – this time, a music festival in Scotland.

According to Scottish press reports, organisers of the Hydro Connect Highland music festival have cancelled this summer's event in Scotland amid fears that the financial demands of staging it would not be sustainable in the current economic downturn. Concerns that audience numbers and sponsorship would decline, and the cost of covering policing and the diesel to transport equipment to the Connect site at Inveraray Castle, has led DF Concerts to put the festival on ice, with a planned relaunch in 2010. Although they would have received some £80, 000 in public funding, the organisers said the subsidy would not have been enough to cover the losses of a seven–figure event hit not only by the credit crunch but also hampered by a remote location and the demographics of its audience. The site was originally picked for its unrivalled beauty. However, Argyll's small population meant organisers had the task of attracting a brand new audience to the area, with about half the core clientele during the past two years travelling from England. High infrastructure and servicing costs, combined with an older audience more likely to have been affected by expensive mortgages and redundancies than the typical 18– to 25–year–old festival–goer, has prompted the organisers to temporarily pull the plug rather than " compromise the festival's high standards and disappoint fans. ","43

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