Published
Wed, Aug 9, 2023, 08:00
- Organisers say the financial target must be reached by September 21st.
Portugal's Waking Life is raising funds after losing €400,000 on this year's event.
The festival, based in Crato, northern Alentejo, is looking to recoup its losses through donations and pre-sale tickets for the 2024 edition, which is scheduled to take place from June 19th through 24th. In an Instagram post, organisers said they'll be "royally screwed" without such assistance. The goal is to raise the money by September 21st.
Two thirds of the target has already been met, but event co-producer Ivan March says there's still a long way to go. "There's huge emphasis for us to prove to ourselves that we can hopefully continue what we do without corporate sponsorship," he told Resident Advisor. "This is why at this moment in time all hands are on deck."
Waking Life's most recent financial report, which was published alongside the launch of the appeal, revealed that the festival has accrued a debt of €662,347 since launching in 2017. The report also highlighted that production costs and crew costs have increased by 55 percent and 74 percent respectively since 2019. Crew costs were lower before 2022 because most members weren't being paid yet. Also, some operational costs have almost tripled since 2019. March said this is why the goal is to "start running more revenue-generating operations ourselves."
In 2022, Waking Life was up by €84,719. This was also the first year that organisers could finally afford to pay crew members, most of whom volunteered during earlier editions. Festivals organisers were also able to secure a €126,703 grant, which helped lower the project's accumulated loss.
According to March, applications for grants and loans are being explored to repay this year's overlap. "It's a watershed moment that really brings everyone together as a community to resolve this–it's game on mode," he added.
The environmentally conscious festival also spent roughly €80,000 of this year's budget on a land regeneration project aimed at diversifying the ecosystem and reducing the risk of wildfires, which are prevalent in the area. "The goal is to sustain this more and more," said March. "And to sustain an operation based on something we believe in while navigating a challenging climate."
Artists such as William Basinski, Skee Mask, Nathalie Seres, Steffi and DMX Krew played at Waking Life earlier this year.
Support the festival, and read the financial report in full.
Corrections, August 25th: A previous version of this article included some incorrect stats and statements on Waking Life's finances.