The first Sydney Festival under new artistic director Kris Nelson is launching a slate of 67 shows and events, with 16 world premieres and 10 free events to be held in January.
By comparison, 2025's fourth and final festival under Olivia Ansell featured 130 shows and events, including 22 world premieres and 50 free arts attractions.
On the face of it, that's half the size with one-fifth the number of free attractions.
"I wouldn't call it a reduced program, I mean, it's certainly focused," said Nelson ahead of the program launch on Thursday.
"As I understand it, budgets have maintained pretty similar patterns, with some usual ebb and flow."
At the same time, rising production costs are making things precarious for subsidised arts events worldwide, said Nelson.
State funding has remained stable as has money from the City of Sydney, but there have been some knock-on effects due to a lack of funding from the City of Parramatta, he explained.
Nelson did not directly answer questions about whether organisers had approached the NSW government for more money, given the festival's rising costs.
Documents submitted to the charities regulator in 2025 show the festival in the red, with expenses of $20.4 million and revenue of $18.6 million, with just under half of that revenue coming from government funding.
Long famed for Australia's best-known arts attraction, the Sydney Opera House, NSW has a growing list of arts organisations struggling with both funding and rising costs.
Its state government arts agency and institutional art gallery have both announced significant staff cuts in 2025.
In a speech at the festival's media preview on Thursday, NSW Arts Minister John Graham wished the event a happy birthday.
"This will be an amazing celebration of Sydney, a celebration of creativity, and I'm really pleased to see the program that's been pulled together," he said.
The state government has been contacted for further comment regarding funding.
At any rate, the 2026 program features the world premiere of Mama Does Derby, a major new commission by Virginia Gay and Windmill's Clare Watson that will see Sydney Town Hall converted into a full-scale roller derby track.
There's also the Australian premiere of LACRIMA, a three-hour cinematic contemporary theatre show telling the story of how the Princess of England's wedding gown is made.
The opening weekend also features Live at Hickson Road: Effectos Especiales - a free outdoor event that's part street performance and part live movie shoot.
Artist in residence Jacob Nash presents his final Blak Out program, featuring sculpture commission HELD by Yuwaalaraay Wirringgaa artist Lucy Simpson, to be installed on Barangaroo's Stargazer's Lawn.
Sydney Symphony Under the Stars will be held over the middle weekend of the festival at a new location in Tumbalong Park at Darling Harbour.
Sydney Festival runs January 8-25.
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