A festival marking the 50th year of the famous Woodstock Music Festival stands cancelled just four months from the date it was supposed to be celebrated, said the prime financial backer.
Popular artists Miley Cyrus, the Killers and Jay-Z were all set to perform at the Woodstock 50 which was to be held in the state of New York. The main funder states the reason for cancellation as being unable to ensure the safety of all the artists, the attendees and other partners.
The organizer, on the other hand, strongly denied that the festival was cancelled and has said that they would seek legal remedy.
Amplifi Live, the investment brand of Japan’s giant PR & Advertising firm Dentsu Aegis, is the lead financial backer for this festival, and it said there was a clause in their contract giving it the option for festival cancellation.
It is rumored that artist booking expenses has already hit $30 million. Dentsu didn’t confirm the number, but simply stated that they had fulfilled all obligations as per the contract. They said it was after much consideration that they decided to announce the cancellation of the festival. However difficult it seemed, they felt it was the most prudent thing to do.
The three-day festival, which was set for the dates of August 16-18, would have seen the likes of Imagine Dragons, Dead & Co., rapper Chance, Cage the Elephant, Sturgill Simpson, The Lumineers and Halsey among others.
The expected attendance was almost 100,000 people.
The first red flag was raised when tickets for the festival were not up for sale on April 22, as originally planned.
Promoted as 3 days of music and peace, the original Woodstock Festival held in the August of 1969, is held as a turning point in the history of music, acting as a symbol of the idealism common to the 1960s.