Earlier this week, media giant Billboard released an article that made serious allegations against several music festivals, including North Coast Music Festival. However, these claims were later proven to be incorrect.
The claims in question were that at least two festivals — North Coast and Lost Lands — had been selling part of their inventory tickets to Lyte as a way to scalp on a bit of extra revenue, as opposed to selling them themselves from their official first-hand website. After further investigation, though, it was discovered that North Coast Music Festival was actually selling tickets at or below face value on the secondary market to protect customers from being overcharged. This decision resulted in less profit for the festival itself.
Despite generating revenue from these sales — and expecting lesser profit from them —, the festivals did not receive any of the profits. According to court documents, North Coast Music Festival sold tickets on Lyte at a loss, even after accounting for the fees generated. Lost Lands Music Festival also experienced similar losses, with Lyte owing them over $300,000 in revenue and fees.
Billboard has since issued corrections and provided additional information to clarify their original claims, and most websites that used the original post as a source have also stepped back from their sayings, including us. We apologize for any misinformation reported, and we’ll be updating you on this topic as more information rolls out.
