Festival revenues to fall 50-60% this year

In Hungary

Image by Shutterstock.com

Although not all domestic festivals will be missed this year, it is estimated that revenues will fall by 50-60% compared to pre-pandemic levels, Andor Posztobányi, managing director of the National Event Office (ORI), told business daily Világgazdaság. 

Based on the recent experience of the Debrecen Campus Festival, fewer people are taking part than usual in years past, and in general the experiences so far are not good.

"Although everyone had been waiting for live music events to start, the audience has not rushed to them. In most cases tickets are selling slowly," Norbert Lobenwein, the organizer of MOL Very Balaton, STRAND Festival, Sziget, Telekom VOLT Festival, and Balaton Sound, told vg.hu.

ADVERTISEMENT

Századvég raises GDP forecast to 7.8% Analysis

Századvég raises GDP forecast to 7.8%

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New editor-in-chief at Betone Studio Appointments

New editor-in-chief at Betone Studio

Budapest leaders make public transport free for under-14s City

Budapest leaders make public transport free for under-14s

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.