Value of secondary Coachella tickets fall by 12% following Beyoncé cancellation

The 'Lemonade' artist announced she will now headline the 2018 edition following advice from her doctors about her pregnancy

The value of secondary tickets for this year’s Coachella festival has reportedly fallen by 12% following this week’s news that Beyoncé will no longer headline.

The ‘Lemonade’ artist pulled out of performing at Coachella 2017 last night (February 23) following advice from her doctors “to keep a less rigorous schedule in the coming months” as a result of her recently-announced pregnancy. She will instead headline the 2018 edition.

Secondary ticket markets have since reacted to the news that Beyoncé will no longer headline, with a drop in the price of weekend tickets reported to be as high as 12% (via Billboard). Prices for the first weekend of the festival (April 14-16) have fallen from an average price of $978 to $872, while weekend two (April 21-23) has dropped from $856 to $834 – a 3% fall.

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This year’s Coachella will also see headline performances from Radiohead and Kendrick Lamar. Festival organisers are currently finalising a replacement headliner to fill Beyoncé’s now-vacated slot.

Beyoncé made headlines earlier this month with her show-stopping Grammy Awards performance. The singer failed to pick up any of the big prizes at the LA ceremony, losing out to Adele, who herself argued that Beyoncé should have won instead of her.

Watch Naughty Boy discuss his Beyoncé collaboration, ‘Runnin’, below: