Goldenvoice, the promotion company behind Coachella, reportedly lost millions as Frank Ocean pulled out of the festival’s second weekend, according to Billboard.
The losses come mainly in the form of the cost of the giant ice pad that was to be employed during Frank’s performance and went unused due to his last-minute ankle fracture and in tickets for the second weekend that could go unsold due to the news of Frank’s cancelation.
Billboard‘s sources say Goldenvoice is looking for another use for the ice pad; although it cannot be used as a public skating rink, there may be a use for it in another artist’s set.
Frank was to be paid $8 million for the two weekends and despite Frank dropping half of that fee with his cancelation, replacement headliners Blink-182 will need to be paid, as well as the recently booked combo of Four Tet, Fred Again…, and Skrillex.
Goldenvoice still stands to make a profit from the festival, though, despite Frank’s set accruing additional costs including fines from Indio for going over curfew (about $133,000 over the weekend) and the energy needed to keep the rink cool (and melt it down). According to Billboard, the promoter averages $115 million in ticket sales across both weekends and another eight figures on concessions.
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