Soulfest organisers have cancelled this year's music festival. The poor ticket sales have forced them to cancel the festival just a week before its opening date.

The organisers issued a statement on their webpage, explaining the reason behind their decision to cancel Soulfest. They feared that because of the poor ticket sales they would incur huge financial loss.

Organisers said that the festival was launched with the intention to promote music genres that are “often overlooked commercially in this country,” but the set of artists and promotional endeavours didn’t help them reach the target ticket sales.

Its lineup of R&B, Hip-hop and Neo-soul artists included Mary J Blige, Lauryn Hill, Mos Def, De La Soul and Miguel. The festival, featuring an A-list lineup of music artists, was scheduled to kickstart on Oct. 20 in Auckland, with events to be held in Melbourne and Sydney as well. Subsequent sideshows were also set to take place in Brisbane, Melbourne and Sydney.

Organisers took to its official Facebook page to inform the fans about the cancellation.

SOULFEST 2015 CANCELLEDIt is with a heavy heart and great regret that Soulfest International advises that it has...

Posted by Soulfest on Tuesday, October 13, 2015

John Denison, the promoter of SoulFest International Australia, said he “sincerely apologises” to everyone involved in the event. “The promoter sincerely apologises to all involved who have dedicated 7 months of their lives to work on this festival, and to the supporters of the event who purchased tickets,” he said.

Meanwhile, ticket refunds are now available, and ticket holdels will be given full refunds.

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