Fyre Fest Pivots To New Business Model After Latest Disaster

Fyre Festival has essentially become a Fyre sale, as the infamous disaster of a music and arts festival has been indefinitely postponed, while the name will now become part of a streaming service.

What could possibly go wrong?

After months of assuring fans that had dished out money on tickets that ranged from a couple of thousand dollars to $1 million packages for the now-postponed Fyre Festival 2, founder Billy McFarland has sold some of the IP rights to Fyre's name to a forthcoming new music streamer, according to Deadline.

You mean to tell me that Fyre Fest isn't happening… again?! "I'm shocked!" said no one ever, as those who did in fact purchase tickets look like absolute fools and deserve the "I told you so!" that they'll be hearing for a very long time.

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FYRE FEST 2 HAS BEEN INDEFINITELY POSTPONED

The report explains that McFarland will still hold ownership of the actual festival itself - should it ever actually, ya know, take place (Good luck with that). However, "some of the IP including two trademarks," of Fyre Fest has been sold to Shawn Rech, who also founded the TruBlue streaming service. Now why would anyone in their right mind want to put their money and reputation behind something as tarnished as the Fyre name? Well, Rech says that for startup projects, you can't hate the brand awareness that Fyre already has - even if it is for all the wrong reasons. 

"I needed a big name that people would remember, even if it’s attached to infamy, so that’s why I bought these [trademarks] to start the streaming network… This isn’t about festivals or hype — it’s about putting the power of music discovery back in the hands of the fans. We’re building something authentic and lasting," Rech told Deadline, who first reported the Fyre acquisition news.

DO YOU THINK FYRE FEST WILL WORK AS A STREAMER?

Rech is essentially doing what Infinite Realty did for Napster after the tech company purchased the infamous original music downloading site for over $200 million just a few weeks ago - shocking nearly everybody who had no idea Napster was even around. As I wrote at the time, however, Infinite's argument was that by acquiring Napster, they are already ahead of the game as far as getting people to recognize a brand name. The hard part for both companies will be to try and educate the public on the new direction of the popular-for-all-the-wrong-reason brands, while also being taken seriously.

The minute the Fyre Fest streaming service inevitably has a tech issue, or goes down - I can already see the memes being created about that!

The positive news is that Fyre at least already has a website - so they've got that going for them. 

Let's just hope they don't make too many promises like McFarland did with the actual festival, only to leave people with these pathetic cheese sandwiches.