This week, media powerhouse Billboard made significant allegations regarding music festivals, particularly focusing on North Coast Music Festival among others. However, these allegations have now been shown to be unfounded and inaccurate.
The accusations suggested that both North Coast and Lost Lands music festivals were selling portions of their ticket inventory to Lyte, allegedly for scalping purposes instead of selling directly on their official websites. A thorough review revealed that North Coast Music Festival was, in fact, selling tickets at or below face value on secondary platforms in an effort to prevent customers from facing markups. Consequently, this approach led to reduced earnings for the festival.
While these sales generated some revenue, it’s important to note that the festivals did not benefit from the profits. Court documents indicated that North Coast Music Festival sold tickets through Lyte at a financial loss, even after accounting for associated fees. Similarly, Lost Lands Music Festival found themselves in a comparable situation, with Lyte owing them upwards of $300,000 in ticket sales and fees.
Billboard has since issued corrections and additional details to clarify their initial allegations. Many outlets that referenced the original article, including our own, have retracted their statements. We sincerely apologize for any confusion caused by this misinformation and will continue to provide updates on this developing story as more accurate information becomes available.
