Sydney Gay and Lesbian Mardi Gras: Big changes announced for iconic LGBTQIA+ festival
Mardi Gras expecting $1.095m deficit by JuneNSW government and local council came to rescue READ MORE: ABC comes under fire over 'appalling' Mardi Gras coverage
Organisers of the world-renowned Sydney Gay and Lesbian Mardi Gras have announced that next year's festivities will be stripped back in a desperate bid to stay afloat financially.
Founded in 1978, the festivities have become an institution on Sydney's event calendar, where millions take to the streets to celebrate the LGBTQIA+ community.
The event was set to bear the brunt of a $1.095m deficit by June before the NSW government and City of Sydney Council stepped in with a $1.1m lifeline rescue package earlier this year.
The massive injection of funding remained confidential in the lead-up to the event to maintain confidence among advertisers and suppliers, The Daily Telegraph reported.
Event organisers announced on Monday that they will scale down next year's festival, despite the promise of ongoing support from government levels.
This year's Sydney Gay and Lesbian Mardi Gras (pictured in March) was buoyed by a $1.1million lifeline payment by the NSW Government and the City of Sydney Council
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'With the 2024 Festival behind us, and as we plan for a leaner 2025, Sydney Mardi Gras will continue to work closely with our government partners in responding to the challenges faced by the major events and festival industry,' a statement read.
'Our relationships with our partners, who believe in the power and importance of major events, remains strong and we look forward to working together in the lead up to 2025 and beyond.'
'Significant' financial pressures included increased production and delivery costs, the cost of living crisis reducing ticket sales and the popular Fair Day being cancelled after asbestos was found in Victoria Park.
Lord Mayor of Sydney Clover Moore said the council would continue to support the event.
'Mardi Gras is a genuine highlight of Sydney's cultural calendar,' she told The Daily Telegraph.
'We are proud to stand with the Mardi Gras Festival and help ensure its sustainability into the future.'
Festival organisers sent a financial SOS in February after predicting to hit a deficit of $1.095million by June (pictured, 2024Mardi Gras)
Mardi Gras organisers conceded that it's a 'difficult time to be a festival in Australia' after massive music festivals were canned this year.
'Sydney Gay and Lesbian Mardi Gras has not been immune to these pressures,' the statement added.
'The mix of external forces, cost of living rises and an industry in crisis formed a 'perfect storm' of factors that has placed Sydney Mardi Gras in a vulnerable position financially, with events coming to a head while delivering one of the most important and culturally significant events in Australia's calendar.'
The organisers said they are 'grateful' to have partners who support the festival and LGBTQIA+ communities and noted the financial and tourism bump it brings in.
'We deliver $35m dollars of economic benefit to NSW each year,' the statement reads. 'In 2024 our festival supports Sydney residents and visitors to enjoy our city with a 20 percent boost in foot traffic on festival's weekends.'
'We have cemented Sydney's international reputation as a safe and inclusive city that embraces it's LGBTQIA+ identity and been part of countless stories of people finding their identity and community through our annual celebrations.'
The organisers have admitted next ear's edition will be 'leaner' with tough decision on the horizon as to what events will remain