Australian Soundwave Festival Shutters, Still Owes Millions To 50+ Artists

A popular Australian music festival has cancelled its 2016 and 2017 installments due to revenue issues.

Soundwave promoter AJ Maddah confirmed the cancellation of the two events over Twitter, citing poor ticket sales.

Meantime, recently released documents show the festival still owed millions to over 50 artists who took part in the 2015 edition.
Soundgarden is owed the most, according to the Australian Securities and Investments Commission numbers, as the band awaits a $2.1 million.

Slipknot and The Smashing Pumpkins are owed $1.6-million and $1.2-million, respectively.

The full list of artists can be found here.

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