The organizers of the popular KAABOO festival in San Diego are launching a new festival property in 2020 with help of billionaire Richard Branson, the founder of Virgin, which turns 50 next year.

Branson announced the festival while standing atop the Banc of California Stadium & Exposition Park in downtown LA, where the June 6-7 will take place across three stages and a mix of general admission and high-end VIP offerings.

"He's very involved in the planning," said Jason Felts, CEO of Virgin Fest and long-time collaborator with Branson. "He has been talking with the artists and connecting directly with talent. He's also been very involved in some of the design elements helping us think through how we can implement our inclusivity sustainability initiatives."

In September, Virgin Fest purchased KAABOO's assets from the event's co-founders. Felts had worked on KAABOO for a number of years and announced at the conclusion of the festival that the five-year-old event was moving from the Del Mar Fairgrounds to Petco Park in 2020.

Virgin Fest, he explains, with be targeted towards a younger demographic and celebrate life in Los Angeles with a focus towards the future.

"We really wanted to create a music festival that regardless of gender or race or sexual preference or religion or the presidential candidate that you voted for," Felts tells Billboard. "We're not just checking the box — we are committed to the values of inclusivity and sustainable with a festival for all."

The lineup and ticket information will be announced early next year and the event will include a focus on sustainability — there will be no onsite parking available and fans will be enouraged to take LA Metro to the festival. Virgin Fest will also ban all single use plastics through a reusable cup deposit system and utilize bio-fuel and solar power.

There's more information at virginfest.com.