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As more and more news emerges around the financial chaos SFX Entertainment is currently experiencing, many rumors have circulated surrounding what the future holds for the company’s numerous productions around the globe. And while optimism has been the approach when addressing questions about SFX’s U.S. festival TomorrowWorld, there has been no promotional announcements for the September event. Today, the live events conglomerate officially extinguished the confusion with official word on TomorrowWorld 2016 with the following statement:

“Dear Friends,

It’s with a heavy heart that we inform you, TomorrowWorld will not take place in 2016. Unfortunately in the current environment , it is not possible to give you the best and unique experience you deserve.

We will miss seeing each other in September and experiencing the magic of TomorrowWorld as one. You, the People of Tomorrow, the foundation of TomorrowWorld, are our inspiration.

Let’s lock and cherish all the magnificent memories in our hearts, this is not farewell…

TomorrowWorld”

It’s not much of a surprise, considering TomorrowWorld’s American parent company SFX has been undergoing serious financial scrutiny with their recent filing for bankruptcy protection. In addition, TomorrowWorld 2015 was also quite a controversial year for the brand with weather conditions causing an unfortunate mess for campers and festival attendees. Though there is some irony surrounding the cancellation, as just yesterday the online EDM community was suggesting dates had been announced for 2016.

As for SFX? The corporation is desperately trying to restructure to salvage what they can of what seems to be a sinking ship. Just this week, the entertainment company also announced it’s plans to auction off Beatport this fall after losing $5.5 million in 2015. Fame House, a marketing agency SFX acquired in 2013, is also up for sale as well.

Take a look at the announcement video associated with the official cancellation statement below. And, be sure to check back with us for more on the fate of SFX, and more announcements regarding the future of the TomorrowWorld brand.

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