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Billy McFarland Fyre Sale: Founder Says He’s Selling the Tarnished Brand After Fyre Festival 2 Collapse
The festival's brand and IP are on the market after the follow-up event was indefinitely "postponed."
Billy McFarland says he’s ready to sell Fyre Festival 2 to the highest bidder.
Earlier today, the convicted fraudster took to social media to post a mea culpa about his failures as a festival promoter while once more rebranding Fyre Festival as “one of the most powerful attention engines in the world,” in his words.
The double-speak is part of McFarland’s attempt to liquidate Fyre Festival’s only assets — its trademarks and IP — to the highest bidder now that Fyre Fest 2 has been indefinitely postponed. Early this month, government officials with the city of Playa del Carmen, Mexico, poured cold water on the long-shot festival — designed in part to rehabilitate McFarland’s image following the disastrous, aborted 2017 edition of the event in the Bahamas that resulted in global mockery, competing documentary films and a federal prison sentence for McFarland — by writing on social media that “there is no record or planning of any such event in the municipality.”
McFarland has said the idea for a follow-up festival came to him while serving time in solitary confinement, and he began pitching Fyre Festival 2 after his release from prison in 2022, hyping his plans on social media with splashy videos and spurious claims. As McFarland would finally admit on Wednesday (April 23), he has failed to regain the trust of fans, major talent agencies and the municipal government of Playa Del Carmen.
In his letter to fans, McFarland explained, “I can’t risk a repeat of what happened in Playa Del Carmen, where support quickly turned into public distancing once media attention intensified,” noting, “For FYRE Festival 2 to succeed, it’s clear that I need to step back and allow a new team to move forward independently, bringing the vision to life on this incredible island.”
On Fyre’s website, where McFarland once hawked $1.1 million ticket packages for Fyre Fest 2, he now features a short pitch deck for the sale of Fyre’s IP, sharing details about Fyre’s web traffic and Google analytics while noting he’s ready to hand off the tarnished brand.
Giving control “to a new group is the most responsible way to follow through on what we set out to do: build a global entertainment brand, host a safe and legendary event, and continue to pay restitution to those who are owed from the first festival,” McFarland wrote, noting that he owes his victims from the first Fyre Festival more than $26 million.
On Monday (April 21), news broke of Fyre’s first licensing deal: an agreement for Fyre Music Streaming Ventures, LLC, a fan-curated on-demand music video streaming service and ad-supported TV channel. As its founder, Shawn Rech, told Billboard: “I just want people to remember the [Fyre] name.”
To view the sales material for Fyre, visit Fyre.mx.
