According to a story reported by Sydney-based The Daily Telegraph (unfortunately hidden behind a paywall), organizers Totem OneLove and their parent company SFX Entertainment have canceled this year’s Stereosonic Music Festival possibly due to the deaths of two people at last year’s festival. Although Totem OneLove and SFX Entertainment have failed to comment, the paper was able to reach festival founder Frank Cotela who stated that he is unsure about the festival’s future as a whole.
This news also comes after SFX Entertainment has declared bankruptcy in the United States and is currently undergoing liquidation. According to reports, the current state of SFX hasn’t affected Totem OneLove which is said to be “cash-flow positive”. However, given the combination of the deaths experienced at last year’s festival and the current trouble SFX Entertainment as a whole is facing, we wouldn’t be surprised to get an official statement soon confirming the Telegraph’s story.
Stereosonic 2015 Aftermovie
Sterosonic Music Festival
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Source: The Daily Telegraph