Readington, NJ: The New Jersey Lottery Festival of Ballooning, known for its colorful annual display in the sky, will not happen in 2024.

This popular event, held at Solberg Airport in Readington, is taking a year off.

Organizers say they want to “reimagine, refresh, and relaunch the next version of this great festival in 2025.” This decision was announced on December 15.

The festival, which started in 1983, is a major summer attraction. Howard Freeman, the festival's executive director, explained that costs have increased greatly after the pandemic.

This and other challenges led to the decision to pause after celebrating their 40th anniversary in July this year.

Howard Freeman (pictured right) and John Korff took over the festival in 1993.

Under their leadership, it became the largest summertime balloon and music festival in North America.

This year, the festival celebrated its 40th anniversary. In July, 155,000 people came to enjoy music, rides, food, games, and about 100 big balloons.

The festival offers a lot for everyone: big balloons, music concerts, rides, and even a 5K race. It's also a fun event for families.

Freeman pointed out that the festival industry worldwide is facing big challenges. Things like inflation, trouble getting supplies, and higher fees for music artists make it hard to keep the festival going without making tickets more expensive.

Freeman also mentioned that getting companies to sponsor big events is tough. Many are careful with their money because of inflation. Plus, the way companies advertise has changed.

They're looking for new ways to get attention, not just the usual radio or TV ads. And, with more extreme weather, it's risky to back outdoor events.

But Freeman believes that sponsoring an event is a good investment, not just a cost.

Over the years, the festival has worked with different companies like Johnson & Johnson and Carvana to create special promotion plans.

In 2022, the festival had partners like Progressive, NJM Insurance Group, Icelandic Glacial, and Jarritos, along with sponsors such as I Love NY, New Jersey Devils, and many others.

He said this mix of partners helped make the event a huge success.

Freeman said a big thank you was deserved to the New Jersey Lottery.

They became the title sponsor in 2020, right when COVID-19 started, and he says they have been very supportive.

Looking ahead to 2025, the festival is searching for more partners and investors. They want to make the event even better, with its famous name, media coverage, and appeal to families.