Definitely noticing this, with EDC Vegas not selling out this year(its always sold out by April or early May, not even a "80% Sold out" post on their FB yet, Yikes!) is a big sign of a retraction/correction.
Lets take a look at Festivals that were canceled over the last 12-18 months-
(off the top of my head, I am sure there are many more)
-
EDC UK
EDC NY
TomorrowWorld
Mysteryland
Stereosonic Festival
Decibel Festival
Hard Day of the Dead
T in the Park
Vertex Festival
The Wrecking Ball
Pemberton Music Festival
Beyond Wonderland Bay Area
Its ironic that this is exactly what happened in the late 90's early 2000's. I remember a point in California when there was literally a massive 30-40k person rave (Huge for back then) every weekend. It got to the point where there were 2 in the same city each weekend. Then all of a sudden the market got way over saturated and all the kids that only went to eat Molly and hand massage each other got burnt out, and the scene died for a long time. Everything got smaller and only the big names survived (Coachella, ULTRA, EDC, Lollapalooza, etc.)
Here we go again...........