Popular Hobart winter festival Dark Mofo will be put on hold next year as organisers shift to a more sustainable model.

They made the announcement on Friday, saying the festival intends to return fully in 2025 and “set the foundation for the next 10 years”.

The festival says despite record attendance and box office sales this year, it is essential to take stock of changing conditions and rising costs and to reset for the future.

The event has reached an agreement with the state government to ensure the winter feast and nude solstice swim still go ahead in 2024.

“These two key events will also coincide with the opening of a new major exhibition at the Museum of Old and New Art,” the festival said in a statement.

Dark Mofo artistic director Chris Twite said the state government had been proactive in offering solutions to proceed with the festival in 2024.

But ultimately the organisers opted for a reduced scope that would honour Dark Mofo’s strong commitment to local community and small businesses, he said.

“We are thankful for the support and assistance that the state government has shown in response to our need to reshape for the future,” Twite said.

“Dark Mofo has always been dedicated to enriching and transforming lives through ambitious art and ideas.

“We want to make sure that we have a festival that continues to deliver incredible art and artists, that continues to expand its artistic boundaries and remains a beacon of creativity, innovation, and cultural significance.

“While this was a tough decision, it ensures we move forward in a viable manner.”

Twite was announced as artistic director in April, replacing Leigh Carmichael who had been in the role since the inaugural festival a decade ago.