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Festivals hold on to sponsors

Despite mounting pressures, summer festivals in Hungary are taking on the commencing season with higher budgets and a broader spectrum of events than last year, while they were also able to keep most of their sponsors on board, the daily Népszabadság found.

Nonetheless, the organizers did indeed feel the difficulties resulting from the hectic changes in the value of the forint, while the July 1 VAT hike will also be incorporated into the ticket prices.

Károly Gerendai, head organizer of the Sziget summer festival said visitors will definitely have to calculate with more limited budgets. This will, however, most severely affect smaller events, Gerendai noted. Accordingly, the changes could have a cleansing effect on the festival organizer market and cull out those that are unable to cope, he added. (Gazdasági Rádió)