Huge variation of business models between all fringe festivals. The biggest cost for them is venues/spaces. Landlords are ultimately in charge of the fate with Festival Fringe.
Where you get the space from is what needs answering.
Theatre Deli had an interesting model that was inspired from East Street Arts and meanwhile use space. However, landlords and estate agents are getting wiser on this, have started including clauses to kick out tenants quicker.
VAULT festival was particularly successful compared to other fringe as it was all in one main hub, plus the artists community was quite big, they were the main audiences. They also introduced young people / students into work experience roles and FOH roles.

One business model that was discussed for fringe was to to follow the Devoted and Disgruntled model, with flexible time and space, being consistent digitally but not geographically. A loose model fringe festival I.e. Spiegaltent acting like a central hub going around in different cities. Although the changing of season / dates might affect the promotional side of it. Brighton Fringe struggles to get PR reviewers to put reviews out as they wait for it to go to Edinburgh Fringe first. VAULT Festival always had coverage as it’s in a usual quiet festival season (February / March).
Edinburgh outside of the fringe festival season is not particularly busy as arts scene.

Is VAULT essential in the London theatre scene? London seems to be more accessible to everyone, although we’re looking fundamentally different in how to engage new communities. Fringe should still be about grassroots.

Fringe outside of UK
Canadian Fringe Association, everyone pays the same fee and they rotate slot on when you get to performe.
Nordic Fringe: you apply to performe across 7 or 8 Nordic countries. Application fee you pay is per number of performances.
There would be and education work to be done for audiences.

Younger audiences
Outreach work with Universities to bring students in. Collaboration with Universities could be the start of a new fringe generation? A springboard to bring them in. Universities have pots of money and venues/buildings. Could engage young people the start of a new financial model for fringe? Arts & Humanity Research Council trustee in collaboration with researchers.

Corporate partnership, exchange - consultancy and training rather than advertising. Philanthropy model like in the States.

Touring programme outside of the festival too?

Increase ticket transparency with audiences, explain the reality where the money goes to (council tax percentage model). Pay it forward or donation button.