Audience members during the 2013 Lollapalooza Music Festival at OHiggins Park on April 6, 2013 in Santiago, Chile.

Pablo Vera-Lisperguer/LatinContent/Getty Images

Following launches in Chile, Brazil and most recently, Argentina, Lollapalooza is expanding its Latin American reach with the launch of Lollapalooza Colombia.

The fest will take place at Parque Simón Bolivar, a huge urban park in the middle of Colombia’s capital, Bogota, in the fall of 2016. It will be produced as a partnership between Lollapalooza founder Perry Farrell, WME and C3 Presents with Bogota-based promoters T310 | Absent Papa.

New Latin Urban Panel: How Colombia & Puerto Rico Are Revolutionizing the Genre

The addition of Colombia to the Lollapalooza roster is a huge win-win. Colombia, which for years had next to no international touring acts travel to the country to due security and infrastructure concerns, has exploded in the past five years and is now a regular tour stop. With a strong economy supporting it, the country has also blossomed as a tourist destination and Bogota is a major Latin American business center.

In addition to becoming a thriving scene for developing artists (J Balvin is Colombian and Nicky Jam lived their for years prior to the relaunch of his career) Colombia has also seen an explosion in its festival business. Events that have international repercussion  include the very successful Estereo Picnic, a rock/alternative fest presented by T310 | Absent Papa.

The company will also produce the inaugural Colombian version of Spanish progressive festival Sonar  in December, 2015, adding to a roster of fests that also includes SOMA, Breakfest in Medellin and Sultana Festival.

"We have had the ambition to bring Lollapalooza to Colombia for some time now, and have found partners who are true professionals and share our passion for the music,” said Lollapalooza founder Perry Farrell in a statement. “Fans in Colombia have a true love of alternative music and we are excited for the rest of the world to find out what we already know about this wonderful country.”