Veldhoven’s Cult & Tumult Festival has been axed. The latest edition of the festival failed to hit fundraising targets, leaving its foundation with a deficit of €24,000.
Municipal authorities had provided €27,000 in funding, with various other sponsors also contributing. The move came after a drop in visitors, increasing security costs, lower bar profits, and less sponsor revenue.
Veldhoven executive board officials pledged to work with local entrepeneurs and institutions to bring a new festival to the city.
Source: www.studio040.nl
Translated by: Bob
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