Festivals in Edinburgh will receive a £10m boost over the next five years to help find a growth programme.
The Scottish Government and City of Edinburgh Council will each provide £5m for The Platforms for Creative Excellence (PLaCE) programme.
It will support new innovative programming and skills development opportunities across the capital’s 11 major festivals between 2018-2023.
And it is part of a drive to secure more private sector support.
Nicola Sturgeon, the First Minister, said: “Since the founding festivals began 70 years ago, the Edinburgh Festivals have become internationally renowned, attracting audiences from across the globe, generating more than £300m for our economy and supporting more than 6,000 jobs.
“The Scottish Government’s contribution to the PLaCE programme builds on the £19m we’ve provided to the Edinburgh Festivals through the Expo fund since 2008.
“It will sustain the success of our festivals, cement their international reputation and support growth in our tourism and creative industries.”
Adam McVey, City of Edinburgh Council Leader, said: “Our festivals have been driving Edinburgh’s tourism for 70 years. Attracting audiences of over 4.5m every year, they add £280m to the Edinburgh economy.
“If we are to sustain our position as the world’s festival city and protect their legacy, we need to make a joint commitment towards supporting their future success.
“In this crucial year, we need to recognise how our festivals support tourism, create jobs, and develop the creative and hospitality industries.”