Last year's Live 8 activities raised profits in the region of $5 million. Now, some cynics out there in cynic land are focusing on the fact that the amassed Live 8 operations actually raised $20.6 million, but that $15.6 million was spent in delivering the uber-benefit, suggesting that by spending three times as much as was raised somehow the whole thing should be considered a failure. But you do have to remember that raising cash was never really an aim of the Live 8 operation, so the fact five million is going to charitable organisations is quite an achievement.
The primary aim of Bob Geldof et al, of course, was to ensure that the issues of African aid, debt and trade were suitably high up the agenda at the G8 Conference being held in Scotland, with much of the money raised through the SMS ticket draw held for the London event going to The Princes Trust, who cancelled their annual fundraising event in order to allow the Live 8 concert to go ahead in Hyde Park.
But the venture nevertheless generated significant revenues, with the $5 million profit figure being revealed last week. That money is now expected to be used to fund organisations who continue to put pressure on the G8 countries to recognise and address poverty in Africa. Which is probably a good thing - because if you're going to be cynical about anything relating to Live 8 it should be this: did the G8 leaders really do anything other than pay lip service to the whole Live 8 campaign? Those cynical types might say "not really, no".