Lollapalooza has also been forced to cancel by City of Chicago
Parent company AEG has announced a "mix of layoffs, furloughs and salary reductions"
The 34th edition of the awards were held virtually on 1st April
"We sincerely hope we will be able to celebrate love, unity, and friendship with all of you this summer."
"During times like these, taking care of yourself and your loved ones is taking care of the future"
The festival is scheduled for July
The announcement follows the cancellation of the festival's 50th edition
The music scene continues to mobilise amid the coronavirus pandemic
"My goal is to build a comprehensive, up-to-date resource for anyone seeking guidance on how to stage alternative music events in this moment of significant upheaval for the industry"
The virtual festival, Second Aether, is inspired by Porter Robinson’s Second Sky