We Love Sounds goes into liquidation

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  • The Sydney-based festival organizer blames its insolvency on heavy losses and an over-saturated festival market.
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  • According to reports, Australian festival series We Love Sounds has gone into liquidation. Since 2006, We Love Sounds has hosted annual music festivals across Australia, originally just in Sydney and later in each of the country's states. But according to company founder Ben Korbel, the festival began to suffer as the Australian festival market became overcrowded. Speaking with The Music Network, he revealed that last winter's series of events with Underworld and Tiga suffered "substantial losses," contributing to the company's insolvency. At this point, We Love Sounds Pty Ltd reportedly owes more than $430,000 to creditors. "When We Love Sounds launched, there was a relevant place for it in the market," he said. "However as new festival after festival entered the market, ticket buyers have become saturated with large scale events with large scale lineups. In order to survive as a business, we went with 'bigger is better', even though our core philosophy was not aligned with this in any way. Sadly business health and artist vision do not always align." You can see the rest of the story over on The Music Network.
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