Located along the breathtaking Lago Maggiore, the Locarno Film Festival is one of Switzerland’s most prestigious cinematic gatherings. It has announced the renewal of Giona A. Nazzaro’s contract as its artistic director for another three years. As audiences have heard, the festival is busy preparing for its 78th edition. Save the date for August 6-16, 2025! This decision reflects the festival’s commitment to responding to the evolving audiovisual landscape. Given these transformative times, this commitment is particularly essential.
The festival announced in early July that it had made drastic strides toward getting back to the black. Despite having finished 2023 with a CHF 485,000 deficit, the festival proved its robustness. In 2024, proceeds went through the roof at CHF 18.2 million. This figure amounts to around $22.2 million and £16.8 million, a first move toward long-term financial sustainability. Though it will finish 2024 with a deficit, albeit a reduced one of CHF 93,300, the organization has a healthy reserve of CHF 691,000.
Audience Growth and Increased Funding
The 2024 edition of the festival brought out even more participants. Average audience participation jumped by 3.5% increasing the average audience to a remarkable 152,000 people. This development is due, in large part, to the institution’s purposeful focus on audiences and their experience paired with increased programming. The festival has been a great driver of increased funding from their private partners. This milestone allows us to enter future events with a more solid financial footing.
The festival experienced a robust 20% growth in daily pass sales. Furthermore, accreditation purchases skyrocketed by 15%. These metrics reflect a renewed interest in the festival and its offerings, indicating a positive trend as it moves toward its upcoming editions.
Future Financial Forecasts
Looking to future editions, the festival’s budget for 2025 expects revenues of CHF 17.1 million, about $20.8 million and £15.7 million. This projection showcases the organization’s confidence in sustaining its growth trajectory while continuing to support filmmakers and the wider cinema ecosystem.
Film critic Giona A. Nazzaro thanked the trust invested in him as head of the new leadership of the festival. He stated,
“I would like to thank president Maja Hoffmann and the entire board of directors of the Locarno Film Festival for the trust and esteem placed in me and in the team that I have the privilege of leading. To pursue together the work of these first five years, in a moment full of unheard-of transformations in the audiovisual sector and film industry – at a complex historical moment – is an exciting challenge that will inspire us confidently towards our 80th anniversary.”
Leadership Acknowledgements
Festival president Maja Hoffmann thanked the tiresome work of festival board members and teams. Their collective efforts over the past year was what truly made the difference. She remarked,
“The efforts of all board members and teams over the past year have enabled us to implement changes and achieve our goals, ensuring a stronger, more robust financial future for the festival. These crucial steps strengthen the Festival’s position, optimise our organisation and improve our ability to focus more on our main priorities of supporting the work of filmmakers and the film and cinema ecosystems.”