Fyre Festival founder Billy McFarland has announced that he is selling the festival’s brand, citing challenges in producing a successful event. The decision comes after his second attempt at hosting a multiday music festival was canceled due to “challenges” and issues with permits.
McFarland initially scheduled Fyre Festival 2 for May 30 to June 2 but postponed it several times before announcing its cancellation. He explained that he realized the best way to accomplish his goals was to sell the brand, including trademarks, IP, digital assets, media reach, and cultural capital, to a new operator.
The brand’s website now lists available assets, including email contact lists, social media reach, and website traffic, for interested buyers to purchase. McFarland stated that he will pick the new group based on their ability to execute the vision.
This announcement comes after Fyre Festival 2 was first reported to be postponed in March, with organizers claiming they were “vetting new locations” and would announce a host destination soon. The festival’s planned lineup and logistics also faced controversy, including a video posted by McFarland announcing 1,800 attendees and dozens of artists, which later sparked confusion when Playa del Carmen City Hall denied the event’s existence.
McFarland had previously pleaded guilty to wire fraud in connection with the disastrous Fyre Festival in 2017 and served six years in federal prison. His attempts at reviving the festival have been met with skepticism and criticism from ticket buyers, investors, and local authorities.
Source: https://www.yahoo.com/news/fyre-festival-founder-says-the-brand-is-now-for-sale-second-festival-canceled-i-cant-risk-a-repeat-heres-how-we-got-here-225555969.html