The Royal Albert Hall has announced a record £7.9m investment in charitable activity in 2014 – an 80 per cent rise from the previous year.

A spokeswoman for the Hall - a registered charity - said the investment was made possible by its operating income of £18.8m - resulting from 397 events and 1.7 million audience members.

Events run at the Hall last year included a week of gigs for the Teenage Cancer Trust, performances by Coldplay and the English National Ballet.

A further 415 events were hosted free of charge or with low ticket prices in other spaces around the Hall - ranging from comedy and cabaret to world music, BAFTA talks, meetings, and conferences.

An Education and Outreach programme – reaching over 100,000 people annually - was run in conjunction to the Hall’s events. The programme includes the Albert Sessions – a project that works with schools, the community and other charities like Music for Youth, to nurture emerging artists by giving them the opportunity to play at the Hall

Chris Cotton, chief executive of the Royal Albert Hall said the Hall’s healthy income had “safeguarded it for future generations”.

“In exceeding our targets for growth and access we safeguard the Hall for future generations,” he said. “Through our current £37m programme of building improvements, continuing to enhance our appeal without impacting on our busy calendar of activities and through continued investment in our extensive Education & Outreach programme.”

The Royal Albert Hall opened in 1871 to fulfil Prince Albert’s vision of a venue to promote the arts and sciences. It is a registered charity and financially self-sufficient, receiving no funding from central or local government.