The twin V Festivals (cap. 80,000) are to be rebranded after the withdrawal of the events headline sponsor Virgin.
Doubts had been raised about the future of the festival, which is held at Weston Park, Staffordshire and Hylands Park, Chelmsford (see Audience issue 213), although co-organisers Festival Republic – a division of Live Nation Entertainment (LNE) – say the sites will be used next year under a new name.
“We’ve been proud to sponsor V Festival for the past two decades and there have been some incredible performances on the stage,” says Virgin founder Richard Branson. “We wish Live Nation every success with their future plans.”
Festival Republic says it intends to retain a pop and dance focus for the new event, the name of which has yet to be announced, and expand from two to three days.
LNE acquired its stake in the V Festivals, launched in 1997 by SJM Concerts’ Simon Moran, Metropolis Music’s Bob Angus and Irish live music entrepreneur Denis Desmond – who is now LNE non-executive chairman – four years ago.
Meanwhile AEG Presents division Goldenvoice is to hold a new 40,000-capacity festival All Points East in London’s Victoria Park, after signing an exclusive five-year contract with site owner Tower Hamlets Council.
The agreement means other festivals which previously used the park, such as LNE’s Lovebox (cap. 30,000) and Citadel (25,000), along with Global’s Field Day (25,000), will relocate next year.