Several artists are boycotting European festivals, including Zwarte Cross and Milkshake, due to concerns over investment firm KKR’s financial ties to Israel. The boycotts stem from KKR’s acquisition of Superstruct, the owner of numerous festivals, and its investments in companies that benefit Israel.

The band Goldband announced their withdrawal from the Zwarte Cross festival, citing their unwillingness to be associated with money flows connected to KKR and its investments related to Israel. Last week, fourteen artists also announced that they would not perform at Milkshake.

KKR’s acquisition of Superstruct, valued at 1.3 billion euros, has raised concerns among artists due to the investor’s diverse portfolio, including investments in weapons, fossil fuel projects, and Israeli tech companies and infrastructure.

Festival organizers acknowledge the artists’ concerns but worry that the boycotts primarily affect festival attendees. A Superstruct spokesperson emphasized that KKR has no influence on festival lineups and that profits remain within the private companies for development.

Despite the festival’s spokesperson saying that the effect on ticket sales seems to be limited, Zwarte Cross is now in search of a replacement act to close the main stage on Saturday, a position Goldband was scheduled to fill.

Some artists see the boycotts as a means of applying political pressure, similar to historical boycotts such as those during apartheid in South Africa. Boycotting festivals that benefit companies associated with Israel is viewed as a more public act of solidarity.