Billy McFarland announces Fyre Festival brand is up for sale
“We knew that FYRE was big, but we didn’t realize just how massive the wave would become”
Convicted felon Billy McFarland has put Fyre Festival up for sale.
The news comes just a week after the reboot edition of his disastrous 2017 event was postponed indefinitely, following a series of (unsurprising) hiccups.
McFarland shared a statement on social media on April 23, revealing that the brand is now available for purchase — including Fyre Festival's “trademarks, IP, digital assets, media reach, and cultural capital”.
“When my team and I launched FYRE Festival 2, it was about two things: finishing what I started and making things right,” the statement reads. “We’ve taken the long road to rebuilding trust. We rebuilt momentum.”
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McFarland went on to describe the Fyre brand as “one of the most powerful attention engines in the world”, appearing in headlines, documentaries, and “conversations as one of the world’s most talked-about music festivals”.
“We knew that FYRE was big, but we didn’t realize just how massive the wave would become. That wave has brought us here: to a point where we know it’s time to call for assistance.”
Saying the brand has become “bigger than any one person”, McFarland is now shifting the weight elsewhere as he asks for a team with “the scale, experience, and infrastructure to realize its potential”.
“There is a clear path for operators and entrepreneurs with strong domain expertise to build FYRE into a global force in entertainment, media, fashion, CPG, and more,” he said.
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He added that, following recent issues in Mexico where the second edition was proposed to go ahead in May, Fyre has been “approached by several Caribbean destinations eager to host FYRE Festival 2”, and has since “found the ideal location”.
Originally proposed to go ahead on the Mexican island of Isla Mujeres from May 30 - June 2, Fyre Festival 2 was later moved to Playa del Carmen in southern Mexico after local tourism officials said they had “no knowledge” of the event.
Last month, tourism officials for Playa del Carmen also denied knowledge of the festival taking place locally, explaining: “There is no registration or planning [of Fyre Festival 2] in the municipality”.
Read this next: Locals in Mexico deny knowledge of Fyre Festival 2: “This event does not exist”
After a slew of issues, Fyre Festival 2 was finally postponed last week, just a month before it was apparently set to go ahead. Those who purchased tickets – which were priced up to an eye-watering $1.1 million – were said to have been refunded.
Earlier this week, it was reported that some of Fyre Festival's IP had been sold to buyer Shawn Rech, who owns a streaming service with To Catch A Predator host Chris Hansen, and is intending to use the brand to launch a video streaming service.
Gemma Ross is Mixmag's Associate Digital Editor, follow her on Twitter
