CONGRATULATIONS to the organisers of Bingley Music Live. Not only has the three-day event established itself as one of the best-loved festivals on the Yorkshire music circuit but also one of the most financially successful.

The event used to get a taxpayer subsidy of between £60,000 and £200,000 a year but last year Bradford Council warned that it might not be able to continue if the show didn’t break even.

As it was council chiefs need not have worried.

A record number of revellers flocked to see a star-studded line-up which included the Kaiser Chiefs and Manic Street Preachers.

The sell-out meant that Bradford Council was able to re-commit to the event which returns to Myrtle Park later this week.

That’s great news for music fans.

It’s also good news for local musicians because there’s more to Bingley Music Live than internationally famous acts. Last year two up-and-coming bands were handed coveted slots alongside the big names.

What better showcase could there be for local talent than to play in front of a 15,000-strong audience?

Naturally some people will say there are plenty of better ways to spend taxpayers’ money than supporting a music festival.

But consider this: tourism is worth more than £600m a year to the Bradford economy and supports more than 13,500 jobs.

And with last year’s event making a profit to the tune of £212,476 the council’s investment is starting to look like a very shrewd deal.