LITTLE ROCK, AR (KAIT) - The Riverfest annual music festival held annually in Little Rock is being suspended. The company announced the decision via an email release on Tuesday.
The music festival just celebrated its 40th event in June.
"We can no longer deliver the experience that Riverfest fans have come to expect," said DeAnna Korte, the festival's executive director. "Rising costs of performers' fees, coupled with a greater number of competing festivals around the country are the underlying factors leading to this decision."
"With our bills paid, and our heads held high, we are closing the doors," said Riverfest board member Cheddy Wigginton, who has served two terms as board chairman and in various other positions throughout the years. "We had a fantastic 40-year run, and we had a great economic impact upon Little Rock and Arkansas. DeAnna and her team – supported by thousands of dedicated volunteers – did a phenomenal job."
Riverfest is a 501 c3 organization and held annual festivals on the banks of the Arkansas River.
When the festival was at its height, it brought in a crowd of 250,000 attendees, with an estimated annual economic impact of $33 million in the community.
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