AUSTIN (KXAN) -- An annual music tradition is returning to downtown Austin early next year following a period of worry from organizers that it could be canceled after 20 years due to a lack of funding. Free Week -- a free, annual two-day music festival that takes over several venues on and near Red River Street -- will happen Jan. 3-4 in 2025. The Red River Cultural District, which organizes the fest, directly credited financial support from Austin City Council for Free Week's return next year. The group was having trouble with funding, putting the future of popular events like “Free Week” in the winter and “Hot Summer Nights” in the summer in limbo, until it got a much-needed boost from the council. READ MORE | Funding boost secures live music in Austin’s Red River District "Today’s news comes as a result of a recent win last Thursday at Austin City Hall with the local city council members voting unanimously in favor of an immediate aid package for the cultural district, a major milestone for the organization following its nearly year-long push for equitable city funding," the Red River Cultural District said in a news release. Dozens of local music acts will take to several bars and venues to transform the Red River Street area into the two-day festival. Free Week and its summertime counterpart Hot Summer Nights act as catalysts to get people involved in the music and entertainment scene during historically slower months for bars and musicians, according to the Red River Cultural District. According to the group, collectively, tens of thousands of residents, travelers and local bands participate in the two downtown music festivals each year to "support, uplift, and preserve Austin’s music economy." PAST COVERAGE | ‘Hot Summer Nights,’ other events in limbo as Red River Cultural District warns of funding woes Free Week organizers said the winter festival also ceremoniously serves as the first music festival in the nation each new year. It started over 20 years ago, with its inaugural weekend taking place in 2003 at the original Emo’s location near Sixth and Red River streets. "We are incredibly grateful to continue hosting Austin's beloved 20 year tradition of Free Week in the Red River Cultural District," Nicole Klepadlo, Red River Cultural District’s interim executive director, said in a news release. "With the support of equitable Cultural District funding, this festival not only sustains the livelihoods of hundreds of musicians, but also supports our local economy by driving revenue to over a dozen music venues and countless small businesses. This funding allocation fuels our mission to keep the Red River Cultural District thriving as a cultural and economic engine for the city." The funding from city council will come in the form of a multi-year contract that will help "provide organizational stability, marketing, and branding, heritage and cultural preservation, artistic and cultural productions, and economic development programming and activities in the Red River Cultural District" per Austin City Council. Free Week is free for attendees, but all festival performances are paid opportunities for artists curated in cooperation with each venue, and supported through corporate sponsors and public donations, according to Red River Cultural District. Donations to the nonprofit are accepted year-round. The organization said it will continue looking for additional funding from major donors and brand sponsors, but festival organizers remain committed to not lowering wages for local performers. Organizers said the festival's music lineup will be revealed soon, as well as a lineup of food and drink promotions at area restaurants, bars and food trucks.