AEG Live, which organises the annual Coachella and Stagecoach festivals in California, is planning six new annual summer concerts in the park from 2013.
Hyde Park's owner The Royal Parks will work with AEG Live to finalise the look, feel and artists for the concerts, which are expected to bring in world-class music acts.
AEG Live’s win ends the partnership between Hyde Park and Live Nation, which held the last five-year contract and ran events like Wireless Festival and Hard Rock Calling in the park, as well as the main London Live entertainment site during the Olympics this summer.
AEG Live bid against Live Nation for the contract but media reports suggest Live Nation withdrew from the tender process in October.
The Royal Parks disputes this and told Event: "Live Nation participated in the process from start to finish. Live Nation was not selected as the preferred bidder."
Changes were made to Hyde Park's event license in February, after noise complaints nearly doubled in four years. The number of concerts permitted per year was reduced from 13 to nine and the number of attendees at events cut from 80,000 to 65,000 and in some cases 50,000.
Royal Parks told Event the ability to meet the licence conditions was an important consideration when awarding the contract. A spokesperson said: "The ability to address the range of licence conditions, one of which is sound levels, was a consideration. Minimising the impact on the park and the local community will be an important part of planning the event and we will be talking to stakeholders."
Comment below to let us know what you think.
For more in-depth and print-only features, showcases and interviews with world-leading brands, don't miss the next issue of Event magazine by subscribing here.