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Suppose the a major music festival, which started in 1985, takes place every nine years and a major theater arts festival, which started in 2001, takes place every five years.

For example,
the music festival in 1985, 1994, 2003, and 2012.

the theater festival in 2001, 2006, 2011, and 2016.

Both festivals will be taking place in 2021.

I have made up the example below.

(ex) We are happy that we will have the fifth edition of both festivals this year.

Is "the fifth edition" correct? I am trying think of the correct word or phrase meaning the "the 5th time".

Please help me. Thank you very much.

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The word edition is used mainly for books and other printed material.

I'd say eg We are happy that we will have the fifth occurrence of both festivals this year.

Clive