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Coachella Prices Drop As Beyonce Cancels Event Performance

Coachella prices have dropped following the news of Beyonce's cancellation of her performance during the event. Although many doubted the possibility of Queen Bey ever dropping out, it seems that she is following doctors' orders.

In a statement by Parkwood Entertainment (Beyonce's company) and Goldenvoice (festival promoter) via the Associated Press, it seems that the singer is pulling out of the event "following the advice of her doctors to keep a less rigorous schedule in the coming months." However, they added that she will be headlining next year's event instead.

Her presence at the 18-year-old festival would have been a win for the organizers, as it would have been the first time that they were able to book a major pop act with a full choreographed show for the main stage. Unfortunately, as the New York Times pointed out, her involvement was questioned when she released her pregnancy announcement via Instagram three weeks ago - her condition apparently caught the organizers by surprise.

The loss of the event's headliner caused an even bigger effect on ticket sales - without everyone's favorite musician, ticket prices dipped immediately. Billboard noted that prices for the first weekend on April 14-16 dropped 12 percent from an average of $978 to $872, and tickets for the second weekend dropped almost 2 percent from $856 to $834.

However, this does not seem to deter music fans, as Billboard also noted that if history is any indication, it will be unlikely that fans will ask for refunds or compensations - after all, Coachella remains to be the most profitable music festival. Its 2016 crowd is said to have totaled some 99,000 paying customers for each of the weekends, bringing in about 200,000 fans paying ticket prices somewhere between $400 for general admission and $900 for VIP, taking in about $94 million in sales. Beyonce or not, organizers still expect to bring in as many fans during the event as they did last year.

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