Woodstock 50 Organizers ‘Committed’ to Festival After Losing Financial Backing

Hours after Woodstock 50 investors announced they were pulling support for the festival, organizers confirmed they are “committed” to continue with the high-profile event.

“We are committed to ensuring that the 50th Anniversary of Woodstock is marked with a festival deserving of its iconic name and place in American history and culture,” Woodstock 50 LLC said in a statement. “Although our financial partner is withdrawing,  we will of course be continuing with the planning of the festival and intend to bring on new partners. We would like to acknowledge the State of New York and Schuyler County for all of their hard work and support. The bottom line is, there is going to be a Woodstock 50th Anniversary Festival, as there must be,  and it’s going to be a blast.”

The pledge to push forward caps off a wild afternoon of headlines after investment arm Dentsu announced that Woodstock 50 — organized in part by Woodstock co-founder Michael Lang — would not proceed. “It’s a dream for agencies to work with iconic brands and to be associated with meaningful movements,” the company said in a statement Monday afternoon. “We have a strong history of producing experiences that bring people together around common interests and causes which is why we chose to be a part of the Woodstock 50th Anniversary Festival.”

The festival has faced other issues in recent months. While its all-star lineup – featuring Jay-Z, Miley Cyrus, Dead & Company, the Raconteurs, Chance the Rapper and Run the Jewels, among others — was announced in early March, tickets did not go on sale; in addition, a planned Earth Day on-sale was postponed due to reported permit issues.