An organiser of the Wild Food Festival in Hokitika says Saturday's event could be the last, if it doesn't pull in the crowds.
The event, which is owned by Westland District Council, made a $68,000 loss last year.
It only attracted about 8,500 people, down from almost 11,000 the previous year.
Festival manager Mike Keenan says it is the 25th anniversary, but if this year is a repeat of last year, the event may no longer have a future.
"We're on notice now that if we don't perform we could be down Skid Row I dare say."
He says the decision lies with council on whether to continue the event if there is another loss this year.
Mr Keenan says ticket sales are down, but with fine weather forecast, he expects numbers to grow with on-the-day sales.
The festival's menu includes tarantulas, horse protein shots, insects, beetles and bugs.
The event runs from 10am to 6pm Saturday.
