In a move that is surely a harbinger of things to come for the live music industry, Perry Farrell and the rest of the Lollapalooza brain trust have shockingly pulled the plug on the traveling tour this year. The packaged funfest was set to kick off July 14 in Auburn, WA, and was to feature such acts as Morrissey, Sonic Youth, PJ Harvey, The Flaming Lips, BRMC, Basement Jaxx, Polyphonic Spree, Bumblebeez 81 and more. Poor ticket sales are thought to be behind the cancellation, as promoters and venues stood to lose millions of dollars due to projected sales being off in every market but NYC. Whatís next? Perhaps some of these acts will go on their own tours, but when a Goliath like Lollapalooza can't make it happen, with ticket prices starting at $15, the concert industry is showing its current state in blazing colors.