Abstract : This article examines the contemporary significance, organizational mechanisms, and development prospects of festivals in the context of globalization and digital transformation. Festivals are interpreted not only as cultural and entertainment events, but also as multifunctional platforms that contribute to the preservation of national heritage, the development of territorial branding, the stimulation of tourism, and the support of the creative economy. The study analyzes the experience of Uzbekistan, highlighting major festivals such as Sharq Taronalari, Boysun Bahori, and Asrlar Sadosi as examples of the growing integration of cultural authenticity with modern management and communication strategies. Keywords : festival, festival management, cultural heritage, intangible cultural heritage, tourism, creative economy, cultural branding, digital transformation, audience engagement, Uzbekistan