The chances of Sziget Festival 2026 are dwindling rapidly: tickets should already be on sale

Károly Gerendai, one of the founders of the Sziget Festival, has said that tickets and passes for next year’s festival should already be on sale. However, it is still uncertain whether the event will take place at all. The coming weeks will prove critical for one of the world’s top ten most renowned festivals, an event that plays a crucial role in Budapest’s tourism, music scene, and cultural life. Without it, the Hungarian capital would undoubtedly suffer a significant setback.

The American owner is pulling out of the Sziget Festival

Gerendai spoke to HVG360 about the festival’s future and the potential ways to save one of Central Europe’s most prestigious and largest events.

On Monday, we reported that the American investment fund KKR, which acquired full ownership of the festival organiser last year after Gerendai and partners sold their shares in two stages (2017 and 2022), is preparing to withdraw. The reasons behind this retreat include the uncertain situation in Hungary and the festival’s ongoing financial losses, which could reach as high as 2 billion Hungarian forints (EUR 5 million) this year.

According to Dr Richárd Andrejszki, CEO of Chef Market Zrt., other factors may also be at play, ranging from changing consumption habits among younger generations (less alcohol, more experiences) to the festival’s lack of continuous year-round online and offline presence—a dimension in which Sziget clearly needs to improve.