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Mr_Dupri

SFX Cancels One Tribe Festival Due to ‘Disappointing Ticket Sales’

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With SFX’s stock recently downgraded and its top executives’ pay altered, the financially shaky EDM promoter has now announced it is canceling the One Tribe festival outside Los Angeles as a result of poor ticket sales.

SFX Stock Downgraded by Moody’s and S&P, Exec Pay Altered

The festival that was scheduled for Sept. 25 and 26 with performers KygoDamian Lazarus and Carl Craig. One Tribe was supposed to be the first California festival for the major dutch dance promoter ID&T, which SFX bought in 2013, and was advertised to include yoga, “spirituality,” “wellness” and “water activites” with the music.

“We had an ambitious plan to bring an innovative and unique experience built around the spirit of community, art and music to an amazing venue in Southern California,” managing director of SFX Live North America Jacob Smid told the New York Times in a statement. “Unfortunately, disappointing ticket sales put us in a position of choosing between compromising our vision and the overall experience at One Tribe, or canceling it.”

SFX Stock Downgraded, Falls 23 Percent Early Tuesday

Meanwhile, SFX’s other events are all on for the time being. These include the Electric Zoo festival in New York this weekend and TomorrowWorld later this month outside Atlanta.

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