In what seems to be yet another radiating effect from SFX Entertainment‘s current financial debacle, it appears another 2016 music event has been cancelled.

Australia’s largest touring festival, Stereosonic, has been “binned permanently” according to a report from the Daily Telegraph. While no official comment has been made yet, there also have been no announcements of dates or ticket prices or any general promotion for the 2016 event. 2015 ‘s Stereosonic faced a lot of criticism after 2 drug-related deaths, further fueling international scrutiny of dance music culture. And unfortunately, being a property of SFX, it doesn’t look good for the nearly 10 year old festival. In fact, inthemix reported recently that the SFX Melbourne office is now up for lease!

It’s a shame for the Australian festival that started in Melbourne back in 2007, though it’s not the first cancellation we’ve heard of this year.  SFX’s American festival TomorrowWorld was discontinued this year, as well as Insomniac‘s EDC Puerto Rico and Beyond Wonderland Bay Area. Could this be an an indication of something bigger? With such a saturation of events available and similar lineups appearing more and more, it will be interesting to see how the music festival circuit evolves.