Organizers of Sydney’s Gay and Lesbian Mardi Gras have announced next year’s festivities will be scrapped in a desperate bid to stay afloat financially.
Founded in 1978, the festivities have become an institution in Sydney’s events calendar, where millions of people take to the streets to celebrate the LGBTQIA+ community.
The event was set to bear the brunt of a $1.095 billion deficit in June before the NSW government and Sydney City Council stepped in with a $1.1 million bailout package earlier this anus.
The massive funding injection was kept confidential in the run-up to the event to maintain trust between advertisers and suppliers. The Daily Telegraph reported.
Event organizers announced Monday that they will scale back next year’s festival, despite a promise of continued support from the government.
This year’s Sydney Gay and Lesbian Mardi Gras (pictured in March) was boosted by a $1.1 million payment from the New South Wales Government and the City of Sydney Council.
“With Festival 2024 behind us, and as we plan for a more efficient 2025, Sydney Mardi Gras will continue to work closely with our government partners to respond to the challenges facing major events and the festival industry,” a statement read.
“Our relationships with our partners, who believe in the power and importance of big events, remain strong and we look forward to working together through 2025 and beyond.”
“Significant” financial pressures included rising production and delivery costs, the cost of living crisis which reduced ticket sales, and the cancellation of the popular Fair Day after asbestos was found in Victoria Park.
Sydney Mayor Clover Moore said the council would continue to support the event.
“Mardi Gras is a real highlight of Sydney’s cultural calendar,” he told The Daily Telegraph.
“We are proud to support the Mardi Gras Festival and help ensure its sustainability into the future.”
Festival organizers sent out a financial SOS in February after predicting they would hit a $1.095 million deficit by June (pictured, Mardi Gras 2024).
Mardi Gras organizers have admitted it is a “tough time to be a festival in Australia” after massive music festivals were canceled this year.
“The Sydney Gay and Lesbian Mardi Gras has not been immune to these pressures,” the statement added.
“The combination of external forces, the rising cost of living and an industry in crisis formed a ‘perfect storm’ of factors that has placed Sydney’s Mardi Gras in a financially vulnerable position, with events coming to a head while It delivered one of the most important and culturally significant events in the Australian calendar.
Organizers said they are “grateful” to have partners who support the festival and LGBTQIA+ communities and noted the financial and tourism boost it provides.
“We deliver $35 million of economic benefits to New South Wales each year,” the statement reads. “In 2024, our festival will help Sydney residents and visitors enjoy our city with a 20 per cent increase in foot traffic on festival weekends.”
“We have cemented Sydney’s international reputation as a safe, inclusive city that embraces its LGBTQIA+ identity and have been part of countless stories of people finding their identity and community through our annual celebrations.”
Organizers have admitted that next year’s edition will be “lighter” and a difficult decision looms over which events will still exist.
