It's the second year that the event will be unable to take place

It'll be the second year that the festival has not taken place

The Road to Ultra event will take place in Taipei

The festival will raise funs for the MS Trust

Lollapalooza has also been forced to cancel by City of Chicago

Parent company AEG has announced a "mix of layoffs, furloughs and salary reductions"

"We sincerely hope we will be able to celebrate love, unity, and friendship with all of you this summer."

The announcement follows the cancellation of the festival's 50th edition 

The virtual festival, Second Aether, is inspired by Porter Robinson’s Second Sky

An order by mayor Bill DeBlasio has been put in place