Boardmasters has confirmed ticket-holders will be entitled to a full refund after the festival was cancelled due to severe weather.
The music event was cancelled 12 hours before it was due to start, with organisers citing severe weather warnings of rain and thunder set to hit the event's site in Cornwall this weekend.
The festival confirmed via their social media that those who bought tickets via the Boardmasters website and official ticket seller will be given a refund for the full face value of their ticket.
In a statement, Boardmasters said: "We confirm that anyone who purchased tickets via the Boardmasters website and official ticket sellers will recieve a refund in full for the face value of their ticket.
"More information regarding how to claim your refund will be released as soon as possible via Boardmasters social media channels."
Earlier on Wednesday, event organiser Andrew Topham was unable to confirm whether customers would be given a refund.
Speaking to ITV News, event organiser Andrew Topham said information would be published on the Boardmasters website in due course, but after the firm had consulted with ticket distributors.
Mr Topham said: "At this point, we need to go through those steps to in order to give the correct information about the refund process."
At the site near Newquay, festival-goers told ITV News that cancelling the event was an "extreme" reaction.
One ticket-holder said: "We understand it although right now it's not really extreme weather, maybe it's a bit extreme to cancel it now.
"Or I think there definitely should have been a better platform to ensure that people could get home."
Another added: "They should have done it more earlier than 11 hours before the actual festival, we weren't the only people there were people coming from Norfolk and Scotland."
The three-day event, due to be headlined by the Wu-Tang Clan, Florence And The Machine and Foals, was to take place in Cornwall this weekend.
However, organisers pulled the plug just 12 hours before the festival was due to start after the Met Office warned of wild weather, including heavy rain and high winds.
In a statement, the festival said the decision to cancel was made after speaking with police and independent safety advisers.
"The safety of you, the fans and attendees, as well as performers and crew comes first, and the potential risk is too severe for the event to go ahead at this time," the festival said.
Refund information will be shared "as soon as possible", organisers said.
They added: "We sincerely regret the disappointment to fans, and apologise for any disruption caused to local businesses, performers and crew who were looking forward to Boardmasters as much as we were."
Great Western Rail confirmed that unused train tickets to and from Newquay for Boardmasters could be refunded, including normally non-refundable advance fares.
On their website, the train company said an additional 9,000 seats had been put on to help those who were looking to travel to the festival.
Bus company Megabus said it would be putting on additional services on its Newquay to London service for passengers affected by the festival's cancellations.
Gareth Shaw, head of money at consumer group Which?, said: "Festival-goers will understandably be frustrated by the last-minute cancellation of this event and will want to know about their refund rights.
"Boardmasters must now make clear to customers how and when they intend to refund them, and do so as soon as possible.
"Those affected should hold onto their tickets, as customers should be entitled to a refund of at least the face value of the ticket, even in the case of the event being rescheduled if they cannot make the new date.
"If Boardmasters are unable to do so, customers should look to get their ticket refunded through their credit or debit card provider."
Would-be festivalgoers have expressed their dismay at the last-minute cancellation.
People on social media have complained about the festival's lack of planning and information about what to do next.
Joseph Towlson tweeted: "After spending over £100 on fuel and stuff to get to Cornwall only to be told the day before!?!?"
Others complained about how they had booked hotel rooms for the duration of the festival.
Shortly after Boardmasters was cancelled, Emily Marchant booked a ticket to Ibiza for Wednesday.
She tweeted: "Within 90 minutes of @boardmasters being cancelled last night we only went and booked flights to Ibiza today instead...happy birthday to me 🤣🥳#boardmasters2019 #ibiza."
Despite the cancellation of the music festival, the Boardmasters surfing competition will still be going ahead despite the cancellation of the music.
The event is part of the World Surf League (WSL) qualifying series where the best British surfers are expected to take part, despite the heavy rain and
Elite athletes from across the world are going to head to the event for five days of surfing on Fistral Beach.
Boardmasters, a live music and surfing festival, usually takes place every year in and around the town of Newquay.
It can trace its heritage back to 1981.
Other acts who had been set to perform this weekend included Razorlight, Dizzee Rascal and Jorja Smith.