Festivo organises a music festival in July 20X2: it rents the site, hires the artists for a fixed fee, alone sets the ticket price, bears the risk of unsold places and is answerable to the public for how the festival runs. According to the analysis given by the case, Festivo acts as a principal for access to the festival. It sells 4,000 units tickets at a price of 35 and pays a total of 98,000 to the artists and the site owner. What revenue does Festivo recognise?
- Number of tickets sold
- 4,000
- Price of a ticket
- 35
- Amounts paid to the artists and the site owner
- 98,000