After a report surfaced yesterday that Stereosonic, arguably the last of Australia’s big touring festivals, has been permanently cancelled, a real estate listing for the company’s Melbourne offices has put the rumour mill into overdrive.
As Tone Deaf wrote yesterday, a report by The Daily Telegraph claims Stereosonic organisers Totem Onelove and SFX Entertainment will no longer be proceeding with the event following two drug-related deaths and dozens of overdoses last year.
Organisers declined to comment, however a source close to the festival has since told InTheMix that the festival’s demise has been a long time coming and that SFX’s bankruptcy proceedings in the US are a factor.
“All the core team behind Stereosonic have left SFX and there’s hardly anyone left to put on the festival,” they said. “Plus SFX is dealing with bankruptcy in the US with the CEO Robert Sillerman gone and the business in disarray, it seems unlikely the festival will return.”
Meanwhile, InTheMix reports that SFX’s Melbourne office has been up for lease on commercial property website Realcommerical.com.au since March. Images accompanying the listing show posters for Stereosonic and Creamfields throughout the space.
The privacy policy on the Totem Onelove website, as well as filings for Stereosonic and Totem Onelove on the Australian Securities & Investments Commission website confirms the address listed on Realcommerical.com.au as that of the twin Australian dance brands.
Images via Realcommercial.com.au
Stereosonic was held over two weekends last year, with 25-year-old pharmacist Sylvia Choi and 19-year-old Stefan Woodward dying from suspected drug overdoses one week apart at the Sydney and Adelaide events, respectively.
Meanwhile, SFX Entertainment have been suffering well-publicised financial difficulties for some time now. As Tone Deaf reported back in February, SFX filed for Chapter 11 proceedings after months of financial hardship.
In a statement, Totem Onelove distanced themselves from SFX Entertainment, insisting its bankruptcy proceedings were confined to the US and would not affect Totem Onelove nor their flagship festival.
