Splendour in the Grass: Bluesfest boss blames Reserve Bank

The boss of a major music festival has said the Reserve Bank is responsible for the slew of events forced to cancel this year.

Organizers of Splendor in the Grass confirmed on Wednesday that this year’s festival, which was due to take place in the North Byron Parklands from July 19 to 21, had been cancelled.

The festival was canceled due to ‘unexpected events’, headlined by Kylie Minogue and American rapper Future.

Splendor is just the latest in a series of music festivals to attract attention, with Bluesfest owner Peter Noble saying a rate hike has left organizers in dire straits.

‘I just take the view that the Reserve Bank will have done what it has done and I hope that not too many companies have gone bankrupt. I really think they did the wrong thing,” he told the newspaper. Courier mail.

“You no longer walk down the main street of Byron Bay and see every shop full. You will see signs saying ‘for rent’.

‘I just wonder: do we really have to hurt our people so much? Is the Reserve Bank doing something that really needs to be scrutinized ultimately?’

Interest rates are currently at a twelve-year high of 4.35 per month. RBA Governor Michele Bullock said it was too early to rule out another rate hike given high inflation.

Monthly inflation data showed the consumer price index was 3.4 percent in January.

Other major festivals such as Groovin the Moo and Falls were also cancelled, with Mr Noble saying the events were like ‘canaries in the coal mine’.

Bluesfest is still going ahead and will kick off on Thursday and run until Monday, with acts including Jack Johnson and Matt Corby set to take to the stage.

But Mr Noble said that unlike previous years where crowds may have swelled to more than 100,000 people, this weekend between 70,000 and 80,000 people were expected.

He said that once interest rates fall, the entertainment industry would recover, but added that the government had to ensure that interest rates did not rise again.

Mr Noble also said smaller venues were struggling to book acts as they could not afford to go on the road.

It comes after music promoter Danny Grant speculated that Splendor’s demise was due to its musical artists being too diverse.

“They had a nightmare for three years and tried 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 probably aimed at audiences who didn’t want to see each other.

The festival was canceled due to ‘unexpected events’, headlined by Kylie Minogue and American rapper Future

‘I don’t think there was a big crossover. It did the opposite of what they were hoping for.”

Australian rapper Illy also weighed in, claiming the issue is “more cultural than the cost of living” because people aren’t going to pay money to see acts they’re not interested in.

“Australian music CULTURE is broken,” he wrote on X.

‘Yes Falls, Groovin, and now Splendor (not to mention countless smaller ones) is going under, but Pink just did 20 stadium shows, Taylor Swift did 600,000+ tix, Fred again 100,000+ in one day… it’s both , but it’s more cultural than the cost of living.”

Illy also claimed that Australian music has ‘suddenly gotten worse’ because people ‘don’t want to spend money going to see acts they don’t want’.

Revelers can be seen during the Splendor in the Grass 2023. Several music events have been canceled in recent years

TikTok user sarahhl0uise also claimed that Australians are not going to pay to see local artists.

‘The line-ups are fucking bad. “Nobody wants to spend $200 to see an all-Australian line-up with no international acts, and when there are international acts they’re not that exciting,” she said.

“People are tired of seeing the same Australian artists over and over again. Give us some variety, there is no more variety and bring in the international acts.’

Organizers of Splendor in the Grass confirmed ticket holders will get their money back and said the three-day music event will be ‘working hard to be back for years to come’ as its future remains uncertain.

A statement read: ‘It is with heavy hearts that we announce the cancellation of Splendor in the Grass 2024, originally scheduled for Friday 19th July to Sunday 21st July at Ngarindjin / North Byron Parklands.

“We know that many fans were excited about this year’s lineup and that all the major artists were planning to join us, but due to unexpected events, we are taking the year off. Ticket holders will be automatically refunded by Moshtix.

‘We thank you for your understanding and will work hard to be back in the coming years.’