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.
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Advanced negotiations underway
Károly Gerendai revealed that negotiations began around a month ago regarding his resuming control over the event, but swift agreement is essential because time is running out. If ticket sales do not start within days or weeks, holding the 2026 festival will become impossible.
He added that they are close to reaching an agreement, yet the pressure of time remains intense. He also mentioned that although major players have shown interest, he prefers to partner with subcontractors who have previously been involved in running the festival, since they would be deeply affected by any loss of income resulting from the festival’s cancellation.
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Ticket sales must start immediately
The predecessor of the Sziget Festival, Diáksziget, was first organised shortly after Hungary’s political transition in 1993. From 1996, it was known as Pepsi Sziget, before adopting the name Sziget Festival in 2002. The event has only been cancelled twice so far — in 2020 and 2021 — due to the COVID-19 pandemic.
For the festival to happen again this year, ticket sales need to kick off this autumn, meaning an agreement must be sealed within weeks.
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