I haven't really compared previous years to confirm it is scaled down much. There are still over 200 bands that will get announced for this year, including more headliners.
I know 2013 (the flood) nearly killed the festival, but people generously did not ask for their $ back. Events are no longer held at Olympic Plaza - probably due to cost and bad weather (June is the rainiest month in Calgary). They regularly hold bingos and casinos, and attendance seems consistent. They have sponsors and get grants - I don't know if there is a revenue problem, but I can speak to some board members. Sometimes too I think they try not to book bands that have appeared recently - they seek out new artists and "bucket-list" bands that they have been wanting to book for years.
We lost some good venues - Republik, Nite Owl. I think it has become harder for some US bands to cross the border. A low Canadian dollar must be a problem too.
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