Already a subscriber?Australia’s largest music festival, Splendour in the Grass, has been cancelled just two weeks after announcing its 2024 line-up, with the owner of a different festival predicting a “correction” in the beleaguered sector will follow.
The costs of staging a music festival have risen at least 30 per cent since before the pandemic, Mr Newton said. While insurance, policing and construction costs had all “skyrocketed”, he also blamed a too-crowded festival market. Financial statements show the Secret Sounds Group lost $1.1 million in calendar 2022 and $6.6 million the year prior.“This would have been an awful decision for them to make, so they must have been seeing some pretty horrendous outcomes.”
This attitude was evident in a response to a Splendour post on X last week by user “Will”. “Reminder Future is carrying the line-up and no one is buying a ticket till two days before so we know he doesn’t cancel,” he posted.
Source: Entertainment Trends (entertainmenttrends.net)
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