The music industry is bracing for another huge shock, with the news yesterday that punk and metal festival Soundwave will be definitely be cancelled after the 2016 tour, and next month’s tour might not go ahead. Controversial promoter AJ Maddah tweeted last night that ticketing company Eventopia “were supposed to give (Soundwave) a scheduled advance to pay deposits to NOFX and BMTH (Bring Me The Horizon)” but “their CFO changed her mind and decided not to make the advance but didn’t tell anyone. so we (SW & bands) waited and waited for $”. He described the issue as a “bad situation” and said “we cannot hold festival without their support”. Band Bring Me The Horizon had tweeted earlier this week that it was not a certainty that they would play at the festival. Eventopia released a statement earlier in the day to music news website Musicfeeds, denying that it was in control of whether the festival went ahead. The festival was already in a precarious place, with the previous operating company of the festival going into voluntary administration in October. In a letter to an unsecured creditor, seen by Crikey, Maddah promises that profits from this year’s festival will go towards paying off debts, which are estimated at approximately $25 million. More than $6 million is owed to the Tax Office and the Office of State Revenue. Both Harvest Festival and Big Day Out festival were both discontinued under Maddah’s watch.

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