Woodstock 50's co-founder needs $30m by Friday to save the festival

The future of Woodstock 50 hangs in the balance, with co-founder Michael Lang reportedly needing to raise $30 million by Friday to save the festival.

If you’ve been following the Woodstock 50 saga, you’d likely know that things aren’t looking up for the festival.

Headlined by the likes of The Killers, Jay-Z, and Dead & Company, along with a handful of acts that performed at the original event five decades earlier, the festival was also set to feature just two Aussie acts – Courtney Barnett and Brian Cadd.

Unfortunately, following criticism by fans for what was called a rather weak lineup, rumours of a cancellation began to circulate after the ticket on-sale date was pushed back.

Soon, the cancellation was confirmed, with Dentsu Aegis Network, the festival’s core investor, revealing to Billboard that they “don’t believe the production of the festival can be executed as an event worthy of the Woodstock Brand name while also ensuring the health and safety of the artists, partners and attendees.”

Woodstock 50 co-founder Michael Lang disputed this however, noting that Dentsu “don’t have a right to cancel it”, while assuring prospective attendees that “Woodstock 50 will take place and will be a blast.”

Check out The Who at Woodstock:

https://www.youtube.com/watch?v=F03a-EYvifU

However, in a new report by Billboard, sources have revealed that if Woodstock 50 is to go ahead as planned, Lang needs to raise $30 million by Friday.

While both Denstu and Rick Farman from New York City’s Superfly have revealed they won’t be involved in the festival, it has since been reported that Dan Berkowitz’s CID Entertainment would be stepping up to serve as the festival’s producer.

Michael Lang has previously estimated that he would need $30 million to stage the festival, but with time time running out, sources say he has only a matter of days to raise the funds in order to secure the location, artists, and appropriate permits needed to hold such a large-scale event.

In related news, TMZ have reported that Michael Lang allegedly sent a letter to the president of the Dentsu Aegis Network, noting his concerns about the large corporation being linked to the free-spirited, anti-consumerist way of life that Woodstock 50 promotes.

Lang claims that Dentsu blocked the ticket sales and began to sabotage the lineup, reportedly telling artists that they could get a gig at the 2020 Olympics if they pulled out, only for the company to announce the cancellation of the festival just days later.

Whatever the case, the entire saga of Woodstock 50 is turning into a major mess and it remains to be seen whether or not the festival will indeed go ahead as initially planned.