Soundwave promoter AJ Maddah has confirmed that the metal music festival will no longer take place in Perth.
Maddah responded to a question on Twitter confirming the speculation, saying: "Sadly the good ones cost a lot of money. We can't afford to bring it w high cost & low sales.
"We just can't afford to come anymore," he added.
Soundwave ticket prices were $200 this year. Maddah said he can trim $20 off the ticket price if Perth is dropped from the tour.
On Ballarat radio on Thursday, Maddah said: "Brisbane, Sydney and Melbourne have been subsidising Perth since the thing went national."
Maddah has had a bad run with festivals in the past year. His Harvest Festival was cancelled nationally and Big Day Out ran up losses reported to be upwards of $8 million.
Soundwave ticket sales were down for 2014. Maddah told Fairfax Media last week that about 150,000 tickets had been sold, down around 100,000 on the previous year, which was headlined by Metallica.
Maddah confirmed to Fairfax Media that Metallica came with a $10 million price-tag.
Green Day is the Soundwave headline act of 2014.
The festival hits Adelaide on Saturday March 1 and finishes in Perth on Monday March 3.
