V Festival is over, Richard Branson announces

Virgin suggests it has 'innovative plan to disrupt industry and ensure music is a force for good'

Pink performs on the Supervene Stage at the V Festival in Hylands Park, Chelmsford ( PA)

V Festival held its last edition this year, Richard Branson has announced.

The popular music event which had been running for 22 years has been scrapped the Virgin head said in a statement, effectively making this summer's show with Pink and Jay-Z as headline acts the last.

Mr Branson said: "V Festival has always been a special weekend for everyone at Virgin. We’ve been proud to sponsor V Festival for the past two decades and there have been some incredible performances on the stage. Now, after 22 very enjoyable and successful years, 2017 was Virgin’s last V Festival."

Mr Branson described being a part of V Festival as "an honour" and "a brilliant journey filled with great people, fun times and exceptional music".

He added "there are some amazing moments that will stay with me forever" and that he had "so many memories to cherish".

Mr Branson also thanked Live Nation for its partnership over the last few years and said he wished the company "every success with their future plans".

The event is set to be rebranded and Festival Republic managing director Melvin Benn told Music Week the festival will continue at both its sites in Hylands Park, Chelmsford, and Weston park, Staffordshire under a different guise.

The new event is expected to take place over the same August weekend with plans to expand from two to three days at both sites.

Virgin's announcement also suggests the company has further plans to make a dent in the music industry "to ensure music is a force for good".

The statement added: "At Virgin, we know first hand how important it is to keep innovating and changing things up, which is why it is now time for us to look at news ways we can disrupt the industry to ensure music is a force for good.

"We're really excited about the future ahead and can't wait to share our plans with music lovers across the globe."