Hungarian Festival Sziget Exits KKR-Backed Superstruct

Photo Credit: Sziget Official (Instagram)

Hungary’s Sziget Festival has left Superstruct after being the first major addition to the live entertainment company’s portfolio in 2017.

Sziget Festival has officially left Superstruct Entertainment and is now 100% the property of its founder and management team. The Hungarian festival was the first major addition to the live entertainment company’s portfolio in 2017, when Superstruct acquired a 70% stake.

“Superstruct’s period of operational involvement in the festival allowed us to navigate the pandemic and to invest in the quality of the festival experience for visitors from across Europe—we are grateful for all their support,” says Sziget CEO Tamás Kádár, indicating that the parting of the two entities was amicable.

Moving forward, Sziget will remain under the leadership of its founder, Károly Gerendai, who returns to the festival after eight years, alongside the festival’s long-standing team. Meanwhile, festival organizers reached a new multi-year land agreement with the Budapest Municipality, confirming the city’s ongoing support for the event.

“The ownership structure will be continuously evolving in the coming weeks,” said Gerendai. “In addition to management, we are also negotiating with major subcontractors and partners, with whom we would like to finance the festival.”

“Our focus now is to emphasize Sziget’s unique identity and values even more,” Gerendai added. “Not only through the headline acts but also by deepening the festival’s cultural significance and its connection to Budapest.”

There was speculation among fans that the future of Sziget was on shaky ground, but the festival has confirmed its 2026 edition will take place from August 11 through August 15 on Budapest’s Óbuda Island.

“For 2026, we’re working toward the same goal as always: to continue developing Sziget as one of Europe’s leading festivals with the strong lineup and international allure that has made it a unique event for decades,” said Kádár.

Sziget was launched in 1993, and welcomes around 500,000 annual visitors from around the world. It has hosted such major acts as Prince, Muse, Post Malone, Billie Eilish, Dua Lipa, Charli XCX, A$AP Rocky, and David Guetta.

Superstruct, meanwhile, was acquired just last year by global investment firm KKR, in a deal with Providence Equity Partners reportedly worth $1.4 billion.