Coachella festival promoter Goldenvoice reached an agreement yesterday with the city of Indio to keep the music festival in the Southern California desert through 2030.
According the the Los Angeles Times, the proposal allows Goldenvoice to expand from offering three large events each year to five. With an impressive Coachella lineup for back-to-back weekends, followed by the Stagecoach country music festival, the promoter is now permitted to stage two additional concerts in the fall. There is no guarantee that the expansion will happen this year, but one new festival can have a maximum capacity of 75,000 people and the other can host as many as 99,000 attendees.
In exchange for the new agreement, Goldenvoice increased the city revenue sharing from ticket sales, which goes into effect in 2014. For its 2013 festivals, the promoter gives $2.33 per ticket sold to Indio, but next year, it will increase to $5.01 per ticket sold.