Woodstock 50, a concert event to celebrate the semi-centennial anniversary of the original 1969 music festival, has been canceled by its promoters, according to a report in Billboard. Officials with Dentsu Aegis Network, the financial backers of Woodstock 50, announced the decision in a statement to the music industry publication on Monday.
“After careful consideration, Dentsu Aegis Network’s Amplifi Live, a partner of Woodstock 50, has decided to cancel the festival,” the statement reads. “As difficult as it is, we believe this is the most prudent decision for all parties involved.”
Acknowledging the missed historical opportunity, Denstus Aegis said that the company feared it would not be able to pull off an event worthy of bearing the name of the original August 1969 festival held in Bethel, New York.
“It’s a dream for agencies to work with iconic brands and to be associated with meaningful movements. We have a strong history of producing experiences that bring people together around common interests and causes which is why we chose to be a part of the Woodstock 50th Anniversary Festival,” the promoters wrote. “But despite our tremendous investment of time, effort, and commitment, we don’t believe the production of the