AEG Live and the Royal Parks have announced a five-year deal to produce six summer concerts each year at London's Hyde Park, beginning in 2013. Further details about the events are forthcoming.
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"AEG Live is proud to be partnering with the Royal Parks in the creation of an exceptional and ground-breaking new summer festival for London," AEG Europe president/CEO Jay Marciano said in a press statement. "Utilizing AEG's global resources and expertise in delivering similar landmark music festivals, such as the annual Coachella and Stagecoach festivals in California, this event shall set a new standard for the enjoyment of live music at this iconic location."
Rob Hallett, AEG Live's president of international touring, adds: "While Hyde Park has traditionally attracted high caliber artists, our plans for reinvigorating the venue with a fresh and innovative new event already have the artist community very excited. I look forward to bringing the world's premier headlining talent to our pioneering new London festival."
The income received by the Royal Parks from the concerts will be used to maintain and manage the eight Royal Parks across London, the statement said.
The new partnership with AEG Live ends the Royal Parks' previous deal with Live Nation, according to the BBC News. The concert promotion company reportedly withdrew from the tender process in October, citing noise restrictions and issues around crowd considerations as the reasons. Live Nation put on 25 days of events at Hyde Park as part of the London 2012 Festival, the BBC News reports. The company also organized July's Hard Rock Calling, where Bruce Springsteen and Paul McCartney had their set cut short after defying the sound curfew.