There is a lifeline.
Just hours after film festival Tropfest announced it would be cancelling its 2015 event due to a mismanagement of funds, the long-running event has already been thrown a lifeline by Australian streaming service Presto who have offered to screen films from this year's event.
According to Mumbrella, the Sydney company is currently investigating the possibility of screening the 16 finalists' films on their service.
"We’re certainly disappointed that such an iconic and popular event like Tropfest has been cancelled; however, we are currently exploring the possibility of showcasing the finalists' films," a statement from Presto read.
"We would be happy to make Presto available as a place for viewers to see these creative works and are exploring options with the relevant parties."
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If Presto's plan is to come to fruition it will raise many questions as to how Tropfest's current broadcast partner, SBS, will be involved.
In a prepared statement the TV network said, "As the broadcast partner for the past few years SBS has been proud to offer a platform to showcase this talent and we are incredibly disappointed by this news."
"We are absorbing this announcement and looking at what it means for SBS."
Meanwhile, NSW Opposition Leader Luke Foley has also urged the Government to help save Tropfest, calling the announcement a "sad day for the arts".
Speaking to ABC Foley said, "I'd like to see the Government through Arts NSW convene discussion with the founder of Tropfest with the view to seeing how we can ensure this comes back on the state's artistic calendar next year."
"I think it's a sad day for the arts in New South Wales. Tropfest has been a vibrant part of the artistic life of NSW since the early 1990s — it emerged here in Sydney and it's thrived ever since. To hear of its cancellation is sad news."
Festival director John Polson described yesterday's decision to cancel the event as "devastating" and "the most difficult one I've made in Tropfest's 23-year history".