Music festivals feel the pinch as economic pressures mount

festivals

Two music festivals have cancelled just days out from their anticipated events citing the mounting pressures of economic headwinds and consumers reigning in their spending habits.

Adelaide Hills music festival Vintage Vibes made the difficult decision to cancel just two weeks out from going ahead. Yesterday, the organisers of the Mornington Peninsula music festival Coastal Jam also pulled the pin on their scheduled event this month.

Vintage Vibes organisers blamed economic pressures and supply chain issues on their decision.

“This decision has not been made lightly; however, current economic pressures have created a landscape within which the festival cannot proceed this month,” they said on Instagram.

“Increased pressure on supply chains, especially to venues outside the CBD, alongside shifts in economic climates reflect the broader challenges many are facing within the industry.

“It has become clear that moving forward with the event in two weeks would not meet the high standards of experiences we promise our attendees, artists, and partners.”

Coastal Jam organiser Adam Metwally also took to Instgram to break the news to ticket holders.

“Everyone that I know has been feeling the sting of the cost of living crisis and one of the consequences of this has been the much slower than usual and very much last minute sales for boutique events like Coastal Jam,” he said.

“Unfortunately it’s led to smaller boutique festivals and events such as ours to fall by the wayside.

“I’ve tried everything I could think of to try and steer the ship back in the right direction, and I have to make the call, but nothing I have come up with has worked. I’m sorry for letting people down.”