FYRE Festival’s on the auction block … and, a man who already owns the IP for the broadcast and streaming rights might try to purchase the whole dang thing.
We spoke with Shawn Rech — the man who cofounded TruBlu, a true-crime streaming service with “To Catch a Predator” star Chris Hansen — and, he says he’s considering buying the rights from the festival from Billy McFarland, who announced yesterday he’s selling.
TMZ.com
Rech explains he purchased the IP, which allows him to use the FYRE name to create a streaming service unrelated to the overall event … admitting he secured it for a pretty reasonable price.
SR described the service as a user-submitted and fan-curated experience, which will include a subscription video-on-demand platform that will cost around $4 a month.
Shawn tells us TruBlu’s all about true-crime — macabre subjects that draw people’s interest — and, he thinks FYRE Fest is just like that, drawing people in who remember the calamity of the first failed event.
Rech says people want to see how all of this turns out … so, Billy’s bound to make some serious coin by selling all the trademarks and IP associated with the brand.
Shawn does note — even if he does decide to buy the whole festival — he’s not a concert promoter … so, he plans to partner with third parties to help bring FYRE 2.0 to life.
As you know … McFarland’s stepping away from FYRE Festival following controversy about its projected location — including whether or not a city in Mexico knew the event was going to happen there.
In a heartfelt statement, Billy said the brand needed someone other than himself to get this second iteration of the festival over the hump … revealing in the process that several Caribbean nations were interested in hosting.
Shawn also explains why he went to FYRE for name recognition instead of bringing in a major artist to promote this new streaming service … listen for yourself to hear the reasons why.
Billy might be done with FYRE … but, it sounds like the brand’s gonna be just fine.
