The film festival began on December 23, 2014 and was kicked off by the yearly Parade of Stars' float parade starting from the Quirino Grandstand.

The awards night commenced on December 27, 2014 at the Philippine International Convention Center, and was hosted by Edu Manzano and Kris Aquino.

From the 13 submissions, 8 were chosen for the festival;[3] MMDA started to accept entries for the New Wave category until October 7, 2014.

The Metropolitan Manila Development Authority was criticized for releasing incomplete official earnings of each film.

This led to some film studios releasing their own earnings.