Shrewsbury Folk Festival is on for a bumper year after organisers revealed that more than 90% of weekend tickets have been sold with more than two months to go.

The four-day festival, widely regarded as one of the top events of its kind in the UK, is bucking the nationwide downturn in the industry, which has seen more than 70 festivals fold or announce a fallow year in the last 12 months amid a challenging financial landscape.

Shrewsbury Folk Festival, which is held at the DMOS West Mid Showground, draws thousands of people to the county town every year including visitors from as far afield as Australia. It pumps well over £1m into the economy with people staying, shopping and eating and drinking locally.

Festival Director Sandra Surtees said with more than 90% of weekend tickets already sold, passes that give access to all four days of the festival could sell out ahead of the August Bank Holiday.

She explained: “We face the same financial challenges as every other festival but curating an unrivalled line-up of music, dance and workshops and introducing an extended payment plan allowing people to spread the costs of tickets over the year, has paid dividends. Our weekend ticket sales have been way ahead of last year since they launched and show no sign of slowing down.

“A large proportion of our festivalgoers are repeat visitors as they love it so much but we’re always pleased to welcome new faces and showcase what a brilliant event we have in the heart of Shrewsbury. It’s also this time of year when day tickets start flying out. We always say to people who’ve never been to come for a day and we can guarantee they’ll be back for a weekend!”

This year headliners include Levellers, Canadian singer songwriter Martha Wainwright and the final UK festival for Oysterband among the line up of folk, Americana and world music.

The festival has four music stages, a dance tent with an extensive line-up of ceilidhs, dances, workshops and shows, and a strong family friendly focus with extensive programmes of music, dance, crafts, arts and more for children and teenagers. There is also more than 100 hours of programmed workshops, sessions and activities from music, dance, crafts, yoga, walks and more.

Day and weekend tickets are on sale at shrewsburyfolkfestival.co.uk, starting from just £47.