https://telex.hu/after/2026/04/29/sziget-sajtotajekoztao-gerendai-karoly-kadar-tamas
AI translate:
Károly Gerendai said at the Sziget Festival’s Wednesday press conference that this week they will formalize the new ownership structure behind the festival in a contract. According to the festival’s founder, management will hold a 70% stake, while the festival’s major subcontractors and professional partners will collectively own 30%. These partners will each have stakes of 1–5% within this arrangement.
Gerendai added that the organizing team has also been freed from having to meet the expectations of a foreign owner, and can now “focus again on what makes Sziget lovable.” Chief organizer Tamás Kádár hopes that ticket sales this year will surpass last year’s figures, and that the festival will also receive tourism support from the new government.
There will also be concerts on the “Day 0,” evoking earlier editions of Sziget through the performers. On that day, Morcheeba and Faithless will perform, followed by a larger afterparty reminiscent of classic dance music festivals at the Revolut Stage, featuring artists including György Korda and others. According to the organizers, there will also be a “Day -1,” though its program will be announced later.
According to Kádár, the renovation of the K Bridge (K-híd) could begin after this year’s Sziget, and they plan to complete the work by the 2027 festival. A new feature in catering is that all drinks will be 10% cheaper before 6 p.m.
Sziget has already announced this year’s headliners, including performances by Skepta, Skrillex, Bring Me The Horizon, Zara Larsson, and Florence + The Machine. It was previously revealed that Budapest Park, which has also appeared as an investor behind the festival, will have its own stage featuring exclusively Hungarian bands. One of the electronic music stages will also be revamped: the venue called “Der Klub” will be organized in collaboration with Turbina and Arzenál.
This year’s Sziget is being held after prolonged uncertainty. It first emerged that the foreign owner, Luxembourg-based Superstruct Entertainment—acquired in 2023 by the American private equity firm KKR—had decided not to take further risks in Hungary. It was then revealed that founder Károly Gerendai intended to take over the festival, but needed the support of the city, as the festival sought a new, more favorable land-use agreement. This proposal failed to pass several times in the city assembly. At the end of October, the Budapest General Assembly once again did not approve the proposal to help ensure the survival of the struggling Sziget Festival, due to abstentions by Fidesz and Tisza representatives. After that decision, many suggested there might be no festival next year, but the following day brought a turnaround: Péter Magyar posted a selfie with Gerendai announcing that they would meet at Sziget next year. According to Gerendai, they managed to reach a compromise with Magyar, with both sides making concessions, allowing the festival to go ahead this year.