Australia's fragile music festival landscape has claimed another casualty: the Park Waves festival, scheduled for February 2026.
The touring event, a joint venture between Parkway Drive and promoters Destroy All Lines, was set to debut in Australia in February 2026.
The event first took place in Dresden, Germany in July 2024.
In a statement issued today, organisers said economic factors were among the reasons for the cancellation.
"The cancellation is due to a combination of challenges, and ultimately, the numbers no longer stack up," the statement said.
"With a heavy heart, we've had to make a difficult decision. We've tried everything. We're gutted.
"We know everyone will be understandably disappointed."
Parkway Drive were set to headline Park Waves, with fellow Australian heavy hitters The Amity Affliction, Northlane and Alpha Wolf also on the bill, alongside international act Story Of The Year.
The festival's 11-date run was to include stops in Perth, Adelaide, Geelong, Scoresby, Bendigo, Wollongong, Eastern Creek, Maitland, Toowoomba, Byron Bay and Sandstone Point. All shows were open to audiences aged 16 and over.
Organisers confirmed ticket prices and booking fees will be refunded, with ticketholders to be notified by email.
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Park Waves joins a growing list of cancelled festivals outside of capital cities.
Long-running regional event Groovin' The Moo was scrapped in both 2024 and 2025, with no word yet on its future.
Falls Festival and Splendour in the Grass also appear to be gone, while Changing Tides confirmed it will not return after cancelling this year's event just a month out.
"This decision has not been made lightly," the Changing Tides festival team in October.
"We're truly devastated, but also deeply grateful for the love, excitement and support to many of you have shown along the way."
Speaking to the ABC last year, Pandemonium Festival promoter Andrew McManus said that external costs were making festivals financially unviable.
Costs of staging festivals remains a huge hurdle for events, which face rising expenses for of mandatory elements such as security, policing, and infrastructure.
Speaking with triple j's Hack program last year, Australian Festival Association managing director Mitch Wilson said all music festivals were faced with greater challenges than usual.
"We're seeing costs up 30 to 40 per cent across the board, and ticket sales just aren't where they need to be to cover those costs," they said.
"Australian festivals are really struggling at the moment because of the strength of the Australian dollar, and travel costs are through the roof."
It is not all doom and gloom for the festival landscape — or Destroy All Lines.
This weekend the company will present the Good Things festivals along the eastern seaboard with headliners Tool, Weezer and Garbage.
And in direct contrast to Park Waves, their Parkway Drive-helmed Hellbound cruise, set for October 2026, sold out immediately upon release earlier this year.