Concert giant Live Nation Urban is taking an equity stake in the Broccoli City Festival, the D.C.-based music festival that turns 10 next year, according to reports.

Billboard and Washingtonian both reported the news of the transaction Friday. The stake Live Nation is taking in the homegrown D.C. music festival was characterized as “significant,” according to Washingtonian and Music Business World.

Broccoli City co-founders Brandon McEachern and Marcus Allen will move into executive roles with Live Nation Urban as part of the deal. Live Nation Urban’s site now lists McEachern as the Director of Cultural Marketing and Allen as the Director of Event Operations.

Representatives for Broccoli City and Live Nation Urban did not return emailed requests for comment.

McEachern and Allen originally founded Broccoli City as a clothing brand in Los Angeles. But after little financial success in fashion, the two shifted to block parties and moved their operation to D.C., collaborating with community organizer Darryl Perkins for their first music festival in 2013. The festival has become a hallmark of the local music scene, featuring go-go artists (Future Band, Black Alley, etc.), as well as local rappers Wale and Rico Nasty, over the years.

Broccoli City Festival already had a partnership with Live Nation Urban in the form of a co-promotion deal that began in 2018 and helped grow the event, according to a 2018 Washingtonian profile of the festival. The concert promoter helped the festival move to RFK Stadium’s grounds and book bigger acts, like Cardi B and the Migos.

This most recent deal comes after the festival had to cancel in 2020 and 2021 due to the pandemic, though it returned in 2022. Now, there may be an opportunity for Broccoli City to expand into new markets and add even bigger acts as the festival approaches its tenth anniversary, Washingtonian reported Friday.

Roots’ manager Shawn Gee partnered with Live Nation to create Live Nation Urban in 2017. The Black-owned business focuses on urban events and content partnerships with hip-hop, R&B, and gospel artists, according to its website. In addition to Broccoli City, Live Nation Urban has partnered with events like the annual Roots Picnic in Philadelphia, Lil Weezyana Festival in New Orleans, and ONE Musicfest in Atlanta.

Broccoli City, meanwhile, has pursued other ventures over the years, including the now-closed Broccoli Bar in Shaw, Juneteenth bike rides, 5K runs, and drive-in movies at RFK stadium during the pandemic. Earlier this year, the organization introduced BLK Change Weekend, a four-day celebration of Black culture that surrounded the Broccoli City Festival events. It’s unclear if Live Nation will also play a role in other social enterprises or just the music festival.