Ostensibly due to ‘a combination of logistics, timing and production issues’ the promoters announced today that the Dan N Vegas festival featuring many rap names is cancelled. Reading behind the lines this is probably more a problem of low ticket sales.
According to the announcement, refunds will begin immediately and the funds will be back in your account in 2 to 4 weeks.
According to Billboard, ticket sales were far below expectations on the on-sale date of June 10th and knew that day the event was unlikely to happen. Due to the festival being cancelled more than 60 days out, only 50% of the artist fee is due to the talent.
The Rolling Loud festival in Miami this July has yet to sell out as well. It appears that potentially there were too many festivals in 2022 with promoters trying to recoup lost revenues due to Covid. In addition the economic inflation potentially affected the number of ticket purchasers.