The director of a major music festival has said the Reserve Bank is to blame for the multitude of events that have been forced to cancel this year.
Splendor in the Grass organizers confirmed on Wednesday that this year’s festival, due to take place July 19-21 at North Byron Parklands, had been cancelled.
The festival was canceled due to “unexpected events” and headliners included Kylie Minogue and American rapper Future.
Splendor is just the latest in a series of music festivals to take the hit, and Bluesfest owner Peter Noble said a rise in interest rates had left organizers suffering.
“I just take the position that the Reserve Bank will have done what they did and I hope not too many companies have been put out of business – I really think they have done the wrong thing,” he told the mail.
The boss of a major music festival has said the Reserve Bank is to blame for the multitude of events that have been forced to cancel this year (pictured at Splendor in the Grass 2023)
“You no longer walk down the main street of Byron Bay and see all the shops full. You see “for rent” signs.
‘I wonder: do we really have to hurt our people that much? Is the Reserve Bank doing something that, in the end, really should be examined?
Interest rates are currently at a 12-year high of 4.35 to the dollar and RBA Governor Michele Bullock said it was too early to rule out another rate hike given high inflation.
Monthly inflation data showed the consumer price index stood at 3.4 percent in January.
Other major festivals such as Groovin the Moo and Falls were also cancelled, with Noble saying the events were like “canaries in the coal mine”.
The Bluesfest is still going on and will kick off on Thursday and run until Monday, with the likes of Jack Johnson and Matt Corby set to take to the stage.
But Noble said that unlike previous years, where crowds may have exceeded 100,000 people, between 70,000 and 80,000 people were expected at this weekend’s event.
He said that once interest rates go down, the entertainment industry will recover, but added that the government must ensure that they do not rise again.
Noble also said that smaller venues were having a hard time booking artists because they couldn’t afford to go on tour.
It comes after music promoter Danny Grant speculated that Splendor’s downfall was due to music artists being too diverse.
“They’ve had a nightmare for three years and they were trying to branch out too much,” the promoter, who runs the Hello Sunshine Festival, said in the video.
‘They went from Kylie Minogue to (American rapper) Future and were probably targeting crowds who didn’t want to see each other.
The festival was canceled due to “unexpected events” and headliners included Kylie Minogue and American rapper Future.
“I don’t think there was much crossover. It did the opposite of what they expected.”
Australian rapper Illy also weighed in, saying the problem is “more cultural than the cost of living,” as people aren’t going to pay money to see acts they don’t care about.
“Australian music CULTURE is broken,” he wrote on X.
“Yes, Falls, Groovin and now Splendor (not to mention the countless smaller ones) go under, but Pink just did 20 stadium shows, Taylor Swift did over 600,000 tix, Fred again over 100,000 in one day… they’re both, but it’s more cultural than the cost of living.’
Illy also claimed that Australian music has “suddenly gotten worse” as people don’t spend “money to go see acts they don’t want to”.
Revelers are seen at Splendor in the Grass 2023. Several music events have been canceled in recent years.
tiktok user sarahhl0uise He also stated that Australians are not going to pay to go see local artists.
‘The line-ups are fucking shit. “Nobody wants to spend $200 to go see an all-Australian bill with no international acts, and if there are international acts, they’re not as exciting,” he said.
‘People are tired of seeing the same Australian artists over and over again. Give us some variety, there is no variety anymore and attract international artists.’
Splendor in the Grass organizers confirmed ticket holders will receive a refund and said the three-day music event will “work hard to return” in the coming years as its future remains uncertain.
A statement read: “It is with great regret that we announce the cancellation of Splendor in the Grass 2024, originally scheduled for Friday 19 July to Sunday 21 July at Ngarindjin/North Byron Parklands.
‘We know there were a lot of fans excited about this year’s lineup and all the big artists were planning to join us, but due to unexpected events we will be taking the year off. Moshtix will automatically refund ticket holders.
“We thank you for your understanding and we will work hard to return in the coming years.”