Many iconic Canadian festivals are experiencing financial strains, leading to cancellations or scaled-back events. The impact of the COVID-19 pandemic, rising expenses, decreased sponsorships, and increased competition have made it difficult for festival organizers to sustain their events. Festivals like Just for Laughs and Toronto's Taste of the Danforth have had to cancel due to funding shortages, while others, like the Regina Folk Festival, are going on hiatus. The decline in festival funding and industry challenges are affecting both organizers and attendees, highlighting the current struggles faced by the Canadian festival landscape.