The Paléo Festival should survive the crisis linked to the new coronavirus, its president Daniel Rossellat estimated in the 24 Hours newspaper. The promised public aid “made it possible to avoid making a vital prognosis” for the demonstration, he said.
“The sunk costs”, such as operating costs, rents for offices and storage rooms, salary costs and insurance “amount to 5.5 or 6 million francs,” says Daniel Rossellat. He claimed 5.5 million francs out of the 29 million francs compensation that the canton of Vaud announced it wanted to pay to compensate for the losses linked to cancellations of events.
“At best, we already know that we will only receive a maximum of 80%, a residual loss that amounts to at least between 1 and 2 million,” he adds, stressing that a savings program, “has a priori without dismissal ”, has been put in place. And “our employees benefit from partial unemployment”.
Tickets already sold
The main concern of the festival was about cash. “We are lucky to have already sold season tickets and 33,000 tickets for Céline Dion’s evening […] which made us cash, “says Rossellat. But, “in any case”, the economic situation of the festival will remain fragile in the coming years, he warns.
The 45th edition was postponed to 2021. “Our objective is to have the same programming at 80%”, continues the man who is also the trustee of Nyon. “This makes it possible not to start from scratch, not to throw in the trash the work already accomplished and the costs incurred”.
Tickets already sold for the concert by Canadian singer Céline Dion will still be valid next year, he said. “She should make a communication soon”.
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