The UKs largest independent festival, Boomtown Fair has just announced that it will be cancelled for the second year in a row.
The 66,000 capacity event, which sold out in February, was due to return to the Matterley Estate, near Winchester, in August 2021.
Organisers said uncertainty surrounding the pandemic and the difficulties around securing insurance meant "the financial risk is simply too high" for large events to go ahead.
They're now calling government-backed Covid insurance schemes to get them up and running again.
The festival had benefited from grants provided by the government's Cultural Recovery Fund, of which organisers were "hugely grateful."
But that cash only came to around 10 per cent of the organisations running costs, and does not solve the ongoing issues with lack of insurance, it said.
“Anyone putting on an event this year, will be doing so without the safety net of insurance to cover them should COVID prevent them from going ahead in any capacity," organisers said in a statement.
"For an independent event as large and complex as Boomtown, this is a huge gamble of up to an eight figure sum and the financial risk is simply too high.”
The festival has confirmed that all customers 2021 tickets will remain valid for the 2022 event and will automatically roll over.
Organisers said that more than 77% of Boomtown ticket holders for the 2020 festival rolled their tickets over. The event is asking customers to do the same again this year if they can.
It'll now take place on 10th-14th August 2022.