After announcing that Fyre Festival is being transformed into a music streaming, Billy McFarland has announced that he is officially canceling the festival. This comes after Fyre Festival 2 was expected to be postponed, but with no new date. McFarland has also added this time around that he intends on selling the brand.
Taking to the festival’s official Instagram page, McFarland shared a statement, “A new chapter begins. After two years of rebuilding FYRE with honesty, creativity, and relentless effort, it’s time to pass the torch. We’re officially putting the FYRE brand up for sale. To the right buyer: the platform is yours. Execute the vision. Make history.” On why he is selling the brand, McFarland shares that he the festival is becoming “bigger than any one person and bigger than what I’m able to lead on my own.” He added in the statement, “When my team and I launched FYRE Festival 2, it was about two things: finishing what I started and making things right. Over the past two years, we’ve poured everything into bringing Fyre back with honesty, transparency, relentless effort, and creativity. We’ve taken the long road to rebuilding trust. We rebuilt momentum. And we proved one thing without a doubt: FYRE is one of the most powerful attention engines in the world.”
When he first wanted to relaunch the festival, McFarland revealed that the idea to do so came to him “during a 7-month stint in solitary confinement.” McFarland pleaded guilty to wire fraud and other crimes for the first festival and was released from federal prison in 2022. It remains to be seen who will purchase the brand.
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