What is a Festival? A festival is an event held by a local community usually to celebrate something that the whole community have in common. There are a lot of religious festivals and also many entertaining festivals for local people. The whole purpose of festivals is to entertain. http://en.wikipedia.org/wiki/Festival
The different types of festivals There are many different types of festivals though the majority of festivals have religious origins and have a cultural significance. Sometimes festivals take place on relevant days especially religious festivals which have religious days but local festivals are usually celebrated on traditional days or any time the festival is suited best to be held. Some of the most famous festivals held in the UK are Scarborough's Acoustic Gathering Festive, Glastonbury’s Festival, Guy Fawkes Day and many more.
Target audiences for festivals... There are different types of audiences for different types of festivals. Festivals are created for the audiences and usually the audiences always have something in common. For example Eid is a Islamic Festival and is celebrated every year by Muslims all over the world. Festivals like the Glastonbury Music Festival is for people over 18 who enjoy music. The audiences for festivals are usually the life and soul of the whole festival and to get the festival right for the audience is very important.
How are festivals funded? Festivals are funded in many ways. Sometimes most of the event manager's fundraise for their festival. They organise an event on the side that people come to and that is how they raise money for their festival. Other ways of funding for a festival is being sponsored by several different other companies. Some festivals are also funded by donations and by selling tickets. http://www.eif.co.uk/about-festival/festival-funding/how-festival-funded
Artistic Policies behind festivals The artistic policies behind festivals are that they should stand out to their audience and attract their attention. The festival should appeal to the audience and therefore the event managers always decorate and create the festival in order so it could attract the audience they aim for. For example the Indian Diwali Festival is very cultural therefore it is decorated in a very religious and cultural way so that people could relate to it and come cultural as well. Where as Glastonbury Music Festival is based on music therefore the promotion of the festival will be very music based and so the artistic policy will be based around music. All of this once again depends on what the audience are interested and it is best if the artistic policies are also complimenting what the festival is based on.