After selling their production company Totem Onelove - which is behind Australia’s famous festival Stereosonic - to SFX Entertainment and facing its 2016 hiatus, Richie McNeill, one of the two founders with Frank Cotela has recently announced to Mixmag his intention to create & launch two new festival in Australia.

Due to SFX Entertainement’ bankruptcy and mismanagement that leads to a 2016 hiatus for Stereosonic festival in Australia, Totem One love’s founders, Richie McNeill who had sold the Totem Onelove Group to SFX Entertainment for $75 million back in 2013 plans to launch two new festivals in hopes to rekindle some of Australia’s festival scene. It’s not confirmed whether his co-founder Frank Cotela will be involved yet as he states :

“ I am launching a new festival in December (and) have a camping festival launching next year. Heaps of tours. Heaps of new events. You’ll just have to wait and see. Can’t let too much out of the bag. “Sure (I would work with him). Frank is great. He has always been forward thinking and we share a passion for the music and putting on shows. ” - Richie McNeill, Stereosonic festival founder

This announcement is not a huge surprise because despite selling Totem One Love group to focus on his family' life, he said in December 2014 in an interview to Themusic.com.au :

“ I don’t have to work again, really. Who knows? Its early days and I am reconnecting with the music I love and family, and I am enjoying it. ” - Richie McNeill, Stereosonic festival founder