Second year festival Lost Lake in Phoenix is being canceled, Billboard has learned. The multi-day event promoted by Superfly — the team behind Bonnaroo with AC Entertainment and who played a role in a partnership promoting Outside Lands and Clusterfest — will be releasing a statement later Friday (6/15) announcing the 10/19-21 festival at the city’s Steele Indian School Park is officially canceled, likely because of poor ticket sales.

The cancelation comes after an announcement earlier this year that the long-running FYF Festival in Los Angeles was canceling their 2018 event because of poor ticket sales. Unlike FYF, Lost Lake had only been around for one year and had announced its headliners in April including Imagine Dragons, The Chainsmokers, Future and SZA, as well as Janelle Monáe, Nas, Jimmy Eat World and many more. Tickets went on sale 4/27.

“In its second year, the festival will once again celebrate the Valley of the Sun’s vibrant culture through an eclectic blend of music, locally-driven culinary treats, interactive games and inspiring art experiences,” a statement announcing the lineup read.

Billboard spoke with Superfly’s Rick Farman about the launch of the festival in 2017 and he acknowledged the festival market in North America was already saturated, but said Superfly’s experience in the festival space gave the company an advantage.

“When you have success, other people are going to try and figure out how to have similar success,” he said in 2017. “And I think the people who do it really really well are going to succeed and the people who don’t do it really well are going to have a tough time. We’ve thought a lot about the opportunity in this particular market with Lost Lake and we think it’s a good bet to make.”

Lost Lake Festival was held last year at Steele Indian School Park, a lakefront destination in the heart of the sixth largest city and 13th largest media market in the U.S., with a large lakefront and sweeping views of the desert mountains and landscape.

“Of all the festival sites that I’ve seen, and I’ve seen a lot, I would put this up in the top echelon,” Farman told Billboard. Lost Lake Festival is co-promoted by Superfly, Stateside Presents, Walter Productions, and Coran Capshaw’s Starr Hill.

Billboard reached out to representatives for Lost Lake Festival but did not receive a response and will update this story as more information becomes available.

This story originally appeared on Billboard.