– 542 Entertainment
A government agency in Texas is blaming a Vancouver-based promoter after it lost more than $1.3 million in public funds on a failed music festival.
The East Montgomery County Improvement District expected to make $920,000 in ticket sales from the Rock The Ranch festival, which took place last May in New Caney, Texas, and featured Jason Derulo, Vanilla Ice, Salt-N-Pepa, Flo Rida and All-American Rejects. Instead it only made $46,759, 5 percent of the original estimate, according to KPRC-TV.
“Honestly, it wasn’t well attended, and we learn from that and we move on down the road, and we wouldn’t do that again,” EMCI CEO Frank McCrady told the station.
The EMCI collects most of its annual $10.5 million from sales taxes.
McCrady said the festival failed because it was poorly marketed and promoted by Vancouver-based promoter 542 Entertainment. The promoter, who was paid $80,000, was chosen from a pool of proposals.
“We’re not going to do business with them again. That’s kind of where we are,” McCrady said.
Rock The Ranch earned a revenue of $91,827, with a total expensive of $1,407,200 for a net loss of $1,315,373, according to documents released by the EMCI. A total of 42 tickets were sold to the event, including 88 weekend general admission tickets and 66 VIP weekend tickets.
542 Entertainment did not respond to Pollstar’s request for comment.