In a statement released Friday, SXSW organizers announced that the city of Austin had cancelled the festival, which was due to open next Friday and run through March 22. This is the first time in the festival’s 34-year history that the event has been cancelled.

“As recently as Wednesday, Austin Public Health stated that ’there’s no evidence that closing SXSW or any other gatherings will make the community safer.’ However, this situation evolved rapidly, and we honor and respect the City of Austin’s decision,” the organization said.

SXSW directed Newsweek to its website when asked for additional comment.

Actor and comedian Kumail Nanjiani applauded SXSW and Austin for cancelling the festival in the wake of concerns over the coronavirus outbreak.

“Sxsw is one of my favorite festivals. Canceling it was the responsible thing to go. I know this sucks for many people for whom this was a massive opportunity. But we’re kind of in an unprecedented situation here and caution is key. Thank you for the making the right decision,” Nanjiani said.

Organizers say they’re hoping to reschedule for later in the year, and are also working to “provide a virtual SXSW online experience as soon as possible.”

SXSW is the largest music festival in the world, often bringing in over 2,000 acts to perform. Appearing at SXSW not only gives musicians the opportunity to appear to fans from all over the world, but it can boost their careers in other ways. Outside of thousands of music fans, the festival attracts a number of industry bigwigs.

“We’re honestly heartbroken. On Monday, our Japan tour was canceled. On Tuesday, we confirmed an official showcase with SXSW. By Friday, we have nothing. It’s devastating. But we understand. We’re not shocked,” Sophie Brochu of the band Fauvely told Newsweek. “We might spend a couple of days in the studio and get to work on recording the songs we were hoping to showcase.”

In addition to music, SXSW also hosts a film festival drawing major celebrities, as well as conferences that have attracted politicians including former President Barack Obama, who spoke at the festival in 2016.

“We understand the gravity of the situation for all the creatives who utilize SXSW to accelerate their careers; for the global businesses; and for Austin and the hundreds of small businesses – venues, theatres, vendors, production companies, service industry staff, and other partners that rely so heavily on the increased business that SXSW attracts,” the festival said.

As of Friday, there were nearly 100,000 cases of COVID-19 throughout the world. The United States has at least 233 confirmed cases and 14 deaths. Though the virus has spread to every continent other than Antarctica, at least 55,444 people have recovered from the virus, and 119 countries have not detected any cases.