MD1460 New Year’s Eve Fireworks 2015 and 2016
The New Year’s Eve Fireworks provide a fantastic showcase of London nationally and internationally. However by 2013, attendance at the event had grown to an unsustainable level, and in 2014, ticketing was introduced for the first time to combat the safety concerns born out of increased audience attendance. This ticketing system created a positive impact on crowd numbers, and will continue to be developed over the next two years as agreed in MD1387. The ticket fee broadly covers the cost of implementing the ticketing system. A core budget for the New Year’s Eve Fireworks was agreed in MD1277 up to and including the 2016 event, with the need to secure additional third-party revenue to make up the full project budget. This additional revenue remains a risk to the project, and therefore it is proposed that the GLA underwrite the unconfirmed revenue to ensure that the project delivery can continue.