Clearwater Festival Canceled Over Financial Troubles

Voted one of the top four music festivals in the country, The annual Great Hudson River Revival will not be taking place in 2016.

The Poughkeepsie Journal reports that the organization, which has been focusing their finances on restoring the sloop Clearwater is facing financial issues that makes it impossible for them to afford the costs that go into putting on the festival.

Ironically, the festival has been one of Clearwater's biggest revenue streams, so without having the money upfront to put on the event, the organization will now miss out on much needed profits from the music festival.

Legendary musician and activist, Pete Seeger, founded Clearwater in 1966 and was its biggest spokesperson until his passing in 2014. Without Seeger's presence last year's festival only brought in $31 thousand in profit. That only about 20% of what the festival did when Seeger was alive. Now the organization has seen its finances fall from profit into the red.

Organizers say that the believe the festival will return next year, but with tough financial troubles to deal with and the sloop Clearwater's $800 thousand restoration project still in the works, it may be difficult to find a way to fund the festival.

We want to know what you think about the cancellation of this year's event. Are you disappointed that there will not be a festival in 2016?