Sziget group got f**ked by covid real hard, and understandably so. I dont know much about other European governments, but I can imagine they at least offered so financial help for the festivals. Here it was nothing.
Combine that with the general inflation in Hungary, the weakening of the forint, the inflation within the music industry and the deteriation of the consumer power and here we are.
Very sad to see honestly. 2018 and 2019 was prime time for Sziget, they were definitely a top 5 festival in Europe, and now its just like any average happening.
And honestly, being "cheap" just wont work out, its not going to engage customers, people wont be coming back - understandably so. It wont work, you either go big and build something big or sort of die, or just become small and irrelevant.