The Impact Of Kanye West's Coachella Cancellation On His Finances And Career

Kanye West might be recently divorced, but he’s still not at a point where he has to worry about money just yet. Still, he might lose a wink or two of sleep over the substantial sum TMZ reports he’s leaving on the table by canceling his performance at the upcoming Coachella Valley Music and Arts Festival. Kanye’s fee for the two-day Coachella gig was reportedly $8 million, plus another half million in production costs for the show.

If the TMZ report is accurate, though, Kanye might never have intended to collect that fee. Sources indicate that even though he only recently announced he was backing out from the festival lineup, he hadn’t done any serious rehearsing or preparation for the show. Now, he’s reportedly looking to take some time off and get help with his well-publicized personal issues of late.

We may never know the full story of what happened between Kanye West and the organizers of the Coachella festival, but his exit seems to be causing more than the usual headaches for them. Page Six is now reporting that one of Kanye’s Coachella replacements, The Weeknd, demanded the full $8.5 million that he was going to get, after learning of reports that they were attempting to stiff him with a lower fee.

A source tells Page Six:

“The Weeknd came in at short notice to take Kanye’s top spot. But Phil Anschutz [who owns the Coachella Festival through AEG Live] wanted to hold on to Kanye’s money and pay The Weeknd far less, just a few million. The festival would pocket the rest.”

After threatening to make his own exit from the show, The Weeknd was eventually able to close a satisfactory deal, reportedly getting the same money Kanye was going to get. Coachella kicks off on April 15th.