We didn’t have this on our music tech bingo card this week. The Fyre Festival name is being repurposed for an unexpected new venture – a music streaming platform.
Shawn Rech, co-founder of crime-focused streaming network TruBlu, has acquired select intellectual property rights to the failed festival’s branding for his latest project.
In a surprising admission to Deadline, Rech explained his reasoning: “It has nothing to do with music. I needed a big name that people would remember, even if it’s attached to infamy, so that’s why I bought these [trademarks] to start the streaming network.”
Get this: the new platform, called Fyre Music Streaming, will feature both subscription video-on-demand services and free ad-supported television channels. Rech told Deadline the service plans to launch around Thanksgiving, stating: “We’re building something authentic and lasting.”
Furthermore, Rech clarified that his company will have no involvement in any potential future Fyre Festival live events. The original 2017 festival, co-founded by convicted fraudster Billy McFarland, became notorious for its spectacular failure, leaving attendees stranded without promised luxury accommodations or musical performances.
As you are aware, the Fyre name carries significant baggage due to its fraudulent origins. Rech appears confident that the brand recognition alone will benefit his streaming venture. His previous success in launching TruBlu suggests that the platform may materialize, although skeptics question whether consumers will embrace a service tied to such an infamous failure.
ICYMI, the unexpected announcement comes as McFarland’s attempts to organize a second Fyre Festival remain indefinitely postponed. Whether this new streaming service can escape the shadow of its namesake’s disastrous history remains to be seen.