London's prestigious Royal Albert Hall is canvassing new and breaking artists to perform on its famous stage.

The distinctive venue in west London is launching an initiative this week, entitled the Albert Sessions, which enables bands to perform at a 50% reduced rental rate.

Rising Liverpool "indie" rock band the Wombats will be the first act to participate, when they will play this Friday night at the plush venue. Ticket prices, at £14 ($27) to £17.50 ($34), are capped to entice younger audiences who normally wouldn't attend concerts at the famous site. Performers will take part in an educational session with younger fans.

The Wombats' debut "A Guide To Love Loss and Desperation" (14th Floor) is at No. 50 on the Official U.K. Albums Chart this week, and has shipped gold (100,000 units) in its 24 weeks since release, according to the Official U.K. Charts Company.

Since it was inaugurated in 1871 by Queen Victoria, the 5,200 capacity Royal Albert Hall has played host to performances covering all facets of the arts, including some of the greatest names rock music, such as the Beatles, the Rolling Stones, the Who and Jimi Hendrix.