Sydney Gay and Lesbian Mardi Gras: Festival appeals for help over million dollar deficit
Sydney’s world famous Gay and Lesbian Mardi Gras Parade appealed for emergency funding to stay afloat in 2024 after recording a million dollar deficit.
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Sydney’s world famous Gay and Lesbian Mardi Gras Parade is facing million dollar losses, with desperate rescue packages rolled out by the NSW government and council to keep it afloat.
The Daily Telegraph can reveal the popular festival – which has taken over the Sydney CBD each year since 1978 – was set to bear the brunt of a $1.095 million deficit by June this year.
The parade was saved after the state government and City of Sydney Council injected a $1.1 million lifeline rescue package in February when the organisation sounded the alarm over its financial status.
The lifeline also came after the state government expedited “two pre-event payments to improve cashflow during the 2024 festival period”.
“Sydney Gay and Lesbian Mardi Gras advised the NSW government and City of Sydney that it was experiencing significant financial pressures, including increased event production and delivery costs, reduced ticket sales due to the cost of living crisis and the impact of the cancelled 2024 Fair Day, after asbestos was discovered in Victoria Park,” a statement from the NSW Government reads.
It can be revealed the state government rescue package remained confidential until after the Parade to ensure suppliers, sponsors and stakeholders maintained confidence in this event.
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 said.
“The City has been a long-time supporter and sponsor of the Festival and provided more than $4.1 million in sponsorship since 2014.
“We are proud to stand with the Mardi Gras Festival and help ensure its sustainability into the future.”
Of the $1.1 million, City of Sydney will fork out $550,000 that will come from savings in the 2023/24 City Life Divisional budget.
Minister for Arts John Graham said the event was an important part of Sydney’s cultural fabric.
“It has become an important celebration of inclusion and community, each parade adds to its history,” he said.
“The NSW government’s decision to partner with the City for Sydney to offer a one-off rescue package reflects the festival’s stature in our community.”
A Sydney Gay and Lesbian Mardi Gras media release said there had been hard times recently for all festivals and that Mardi Gras was not “immune” to financial pressures.
“Our timeline in budgeting, planning, launching tickets and delivering our 46th festival saw a challenging environment grow more and more difficult,” the release said.
“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 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.”
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