Newtown Festival calls curtains after 40 years

The iconic and beloved Newtown Festival has called curtains on the annual event, some 40 years after it was first established.

The Newtown Neighbourhood Centre (NNC), which organises the yearly event, made the announcement today, citing unmanageable costs in keeping the festival free.

NNC said that while the event had experienced "significant growth" the "large-scale financial endeavour" had "eclipsed the resources" of the small community group.

READ MORE: Two beloved late-night Sydney food joints close up shop

"After years of careful consideration, which involved reviewing a number of possible funding scenarios and business cases, as well as community consultation, NNC's board has made the decision to discontinue the festival," NNC said in a statement.

"The board did not come to this conclusion lightly and acknowledges how much the festival will be missed by residents, and NNC itself.

"We will instead participate in three key events led by Inner West Council to drive awareness of the services we provide."

The group said if it were to continue running the event at no cost to the public, "NNC would be severely impacted financially".

READ MORE: Businesses turn screw on NSW government with mass closure warning

"Community surveys showed limited interest in an entry fee to support the event, which made the future running of the festival unfeasible," NNC added.

For over four decades, the festival had been a beloved staple in Sydney's music scene, helping launch the careers of dozens of local and international acts, including Grammy nominated Aussie rapper the Kid Laroi.

The festival first launched in 1978, having celebrated its 40th birthday in 2018.

The event also played a crucial role in raising funds for the NNC, who provide frontline services to those experiencing hardship, including homeless outreach and aged care and family services.

Sign up here to receive our daily newsletters and breaking news alerts, sent straight to your inbox.