Kanye West suffers $8.5m loss for cancelling Coachella performance

Kanye West has reportedly suffered a huge loss for cancelling his two-weekend performance at Coachella 2022 just a couple of weeks before the event.

According to TMZ, the Donda 2 hit-maker lost $8 million for pulling out of the much-anticipated show.

The outlet also reported that the organisers also planned to pay the Chicago native $500,000 in production costs.

Moreover, the publication also claimed that a few insiders confirmed West's plan to bail on his concert gig for quite some time, long before his social media declaration.

The 44-year-old reportedly never participated in rehearsals for the show in contrast to other artists who spend months preparing ahead of taking the stage at the festival.

Furthermore, organisers are now eyeing The Weeknd and Swedish House Mafia's performance to headline the show in West's place.

"The Weeknd will be paid what Kanye was expected to earn for his participation," The Sun reported.