| | Re: "lasts" or "continues"?
I am a native of California and I only speak American English. In the 2 pairs of sentences you wrote, I pick the first sentence of each pair as being correct. Each subject you used takes time (a festival or a movie). I think with any other subject like that, "lasts" is the better choice. I could write sentences with "lasts" concerning weddings, sporting events, television programming, etc.
"Continues" is not used a lot. I can say, "His jokes continue to amuse me." Here it's not the jokes that continue, but my amusement. I am using "continue" to describe my emotion. I hope this helps.