The Budapest Wagner Days deserve a special place not only in the history of Hungarian opera festivals but also in the history of staging operas in Hungary. If we were trying to define this speciality, most visitors would probably mention high musical standards in the first place. The custodian of these standards is primarily Ádám Fischer, who has been artistic director since the foundation of the festival in 2006, and the outstanding national and international singers invited by him year after year. Less is said about what makes the stage realization of the productions on the Budapest Wagner Days special. Although critical response has always focused on trying to decipher this, the secret for audiences is that what they see on the Wagner Days is not “director’s theatre.” But is it really not director’s theatre? If it is not, are the festival’s creators consciously distancing themselves from director’s theatre? And if we really see something different, what is it? And do we consistently see it? The following study primarily seeks answers to these questions.