"Bánkitó has operated as a non-profit enterprise since the beginning: every year we have used all of our profits to implement the following year's festival. However, the successive crises of recent years have made this model increasingly impossible. As a civil society organization, the festival format we originally created is no longer sustainable," the organizers said in the statement.

They emphasized, " With declining revenues, disappearing subsidies, and ever-increasing costs, we could only continue to operate if we made serious compromises - ones that go against our core values."

The Bánkitó Festival was first organized 16 years ago with the aim of providing space for a diverse cultural environment, the alternative, live music scene and subcultures, as well as drawing attention to social, political, human rights and civil issues. 

They felt it was important that, in addition to mainstream music performers, progressive, smaller performers could also be introduced, and that the productions of theaters, visual artists and performance artists be given the same weight as the musical programs - the announcement reads.

According to the organizers' previous announcement, Carson Coma, Analog Balaton, Co Lee and Csaknekedkislány, among others, will give concerts at this year's Bánkitó Festival, which will be held from July 9 to 12. 

Among the other performers will be Platon Karataev, Noémi Barkóczi, Galaxisok, Kolibri, 6363-ra, iamyank, Selecta dj-i, Lenkke, Hakumba and the lowercase holidays, 30Y and Elefánt.

More: 
Bánkitó Festival
 

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