As we reported here last Wednesday, Monolith Festival organizers had set up a “People’s Fund to Save Monolith” in order to help raise a portion of the $200,000 needed to get the annual Red Rocks event back in business.
On Friday, however, the pledge drive was canceled after failing to meet its December 4 goal of raising $38,000 in fan donations. The drive had brought forth 38 backers with donations totaling $2,920.
To find out what’s next for the three-year-old festival (which was hit hard this past year by a troubled economy, bad weather and the withdrawal of mega-promoter AEG Live), we contacted Monolith’s Josh Baker. Josh responded to us by email earlier this morning:
“Our ability to move forward did not soly rely on the donations. We just set that up at the request of the fans. We are working diligently on investors to back the event for next year. Things are going pretty well right now, but don't want to jinx ourselves just yet.”
We’ll keep you posted on future developments. You can also go here to follow Monolith on Twitter.