Glastonbury organizer Michael Eavis has revealed that the British music festival may not be around much longer. Eavis revealed that the festival has stayed afloat because it sells out annually--and it sells out because it lands huge stars like U2 and Beyonce. But he doesn't believe it can sustain itself in dire economic times.
According to Eavis, Jay-Z's appearance in 2008 was almost the festival's financial back-breaker.
“It’s on the way out. We've probably got another three or four years. Womad and Latitude are not selling out," he commented. "We sell out only because we get huge headliners. In the year Jay-Z played we nearly went bankrupt."
The festival won't take place in 2012, but it scheduled to return in 2013.
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