Fyre Festival 2 Officially Cancels, Brand Up For Sale

After teasing the return of Fyre Festival set to take place in Mexico, with a postponement announced last week, festival founder Billy McFarland revealed the brand is officially up for sale. The festival was set to host its second edition between May 30 and June 2 on Isla Mujeres, Mexico. Last week, ticket-holders were informed that they had been issued refunds after the event was indefinitely postponed.

Fyre Festival made headlines in 2017 with its disastrous first edition that led to festival founder Billy McFarland being convicted of fraud. The event led to numerous documentaries detailing fans who paid a premium for the “ultimate beach party” on a Caribbean island with promises of celebrities and sandy shores, only for acts such as blink-182 and Migos to drop out and accommodations to be revealed as half-built tents.

McFarland announced he’d be bringing Fyre Festival back, this time in Mexico, with no lineup announced up until the event’s indefinite postponement.

“Over the past two years, we’ve poured everything into bringing FYRE back with honesty, transparency, relentless effort, and creativity,” McFarland wrote in a statement.

McFarland’s statement noted his team faced challenges with hosting the event in Mexico, but promised “several Caribbean destinations eager to host Fyre Festival 2” and that they have “found the ideal location for the festival.” McFarland noted media scrutiny due to his involvement and revealed he believes the brand’s best way to find success moving forward is by him taking a step back.

“We have decided the best way to accomplish our goals is to sell the FYRE Festival brand, including its trademarks, IP, digital assets, media reach and cultural capital – to an operator that can fully realize its vision,” McFarland continued. “There is a clear path for operators and entrepreneurs with strong domain expertise to build FYRE into a global force in entertainment, media, fashion, CPG, and more. For example, in the two years since we’ve re-launched Fyre Festival, Hollywood and entertainment executives have already licensed the brand to develop properties, specifically in theatre, music streaming and Free Ad-Supported TV.”

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