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.
Splendour in the Grass organisers confirmed on Wednesday that this year’s festival, due to be held from July 19 to 21 at the North Byron Parklands, had been scrapped.
The festival was cancelled due to ‘unexpected events’, and headliners included Kylie Minogue and American rapper Future.
Splendour is just the latest in a series of music festivals to get the chop, with Bluesfest owner Peter Noble saying a hike in interest rates had left organisers suffering.
‘I just take the position that the Reserve Bank will have done what it’s done and I hope not too many businesses have been put out of business – I really think they’ve done the wrong thing,’ he told the Courier 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 Splendour in the Grass 2023)
‘You don’t walk down the main street of Byron Bay any more and see every shop full. You see ‘for lease’ signs.
READ MORE: Kylie Minogue breaks her silence on cancelled Splendour in the Grass
‘I just wonder, do we really have to hurt our people that much? Is the Reserve Bank doing something that in the end, really should be scrutinised?’
Interest rates are currently at a 12-year high of 4.35 per and RBA Governor Michele Bullock said it was too early to rule out another rate hike given how high inflation was.
Monthly inflation data showed the consumer price index at 3.4 per cent in January.
Other major festivals like Groovin the Moo and Falls were also canned, with Mr Noble saying the events were like ‘canaries in the coalmine’.
Bluesfest is still going ahead and will kick off on Thursday and run until Monday, with acts like Jack Johnson and Matt Corby set to take the stage.
But Mr Noble said unlike in previous years where crowds may have climbed to more than 100,000, between 70,000 to 80,000 were expected at this weekend’s event.
He said once interest rates come down the entertainment industry would recover, but added the government needed to ensure they wouldn’t climb again.
Mr Noble also said smaller venues were struggling to book acts because they couldn’t afford to go on the road.
It comes after music promoter Danny Grant speculated Splendour’s downfall was due to the musical artists being too diverse.
‘They have had a nightmare three years and were trying to diversify too much,’ the promoter, who runs the Hello Sunshine Festival, said in the video.
‘They went from Kylie Minogue to [American rapper] Future and they were probably aiming at crowds that didn’t want to see each other.
The festival was cancelled due to ‘unexpected events’, and headliners included Kylie Minogue and American rapper Future
‘I don’t think there was much of a crossover. It did the opposite of what they were hoping for.’
n rapper Illy also weighed in and claimed the issue is ‘more cultural than cost of living’-based as people aren’t going to pay money to see acts they aren’t interested in.
‘n music CULTURE is broken,’ he wrote on X.
‘Yes Falls, Groovin, and now Splendour (not to mention countless smaller ones) go under, but Pink just did 20 stadium shows, Taylor Swift did 600,000+ tix, Fred again 100,000+ in a day.. it’s both, but it’s more cultural than cost of living.’
Illy also claimed n music has ‘suddenly got worse’ as people won’t spend ‘money to go see acts they don’t want to’.
Revellers are seen at the 2023 Splendour in the Grass. Several music events have been cancelled in recent years
TikTok user sarahhl0uise also claimed Aussies aren’t going to pay to go see local artists.
‘The line ups are f***ing shit. No one wants to spend $200 to go see a fully n lineup with no international acts and if there are international acts, they are not that exciting,’ she said.
‘People are sick of seeing the same n artists over and over again. Give us some variety, there is no variety anymore and pull in the international acts.’
Splendour in the Grass organisers confirmed that ticket holders will be refunded and said the three-day music event will be ‘working hard to be back’ in years to come as its future remains uncertain.
A statement read: ‘With a heavy heart, we’re announcing the cancellation of Splendour in the Grass 2024, originally scheduled from Friday 19 July to Sunday 21 July in Ngarindjin / North Byron Parklands.
‘We know there were many fans excited for this year’s line-up and all the great artists planning to join us, but due to unexpected events we’ll be taking the year off. Ticket holders will be refunded automatically by Moshtix.
‘We thank you for your understanding and will be working hard to be back in future years.’