The iconic Vancouver waterfront fireworks festival that has been held for more than three decades has been cancelled indefinitely due to financial difficulties.
In a statement, the Vancouver Fireworks Festival Society says it had been reaching out to government and business communities for months but can no longer "keep the event afloat."
It says production costs have risen over the last three years while federal funding has been eliminated, provincial funding has been drastically reduced and private-sector investment declined.
The decision comes as the society was in the process of making financial commitments to host next year's event and determined it was no longer feasible to move forward.
It says it had introduced ticketed seating and viewing lounges in recent years in an attempt to bump up revenue, but a free community event on such a large scale is "no longer financially sustainable" without government grants or private sponsorship.
The event, described by organizers as Canada's largest free event and a major tourism driver for British Columbia for the past 33 years, was originally known as the Symphony of Fire before changing its name to the Honda Celebration of Light more than a decade ago.
“To say it hurts to make this decision is an understatement,” said event executive producer Paul Runnals in a statement. “For our team, our volunteers, our partners, and everyone who has poured their time and energy into this event year after year, this is personal. However, (organizers) have exhausted every option to keep the festival going.
"Our hope is that by being transparent about the financial realities, that governments and partners might step up to create a long-term solution that allows the Honda Celebration of Light to return stronger and more sustainable at some point in the future.”
Picture Courtesy: THE CANADIAN PRESS/Ethan Cairns
