MTV has grown its live events business in the U.S. with the acquisition of SnowGlobe Music Festival, a yearly New Year’s Eve event.

MTV plans to work with the SnowGlobe team, leveraging the group’s experience launching new events, to expand the annual festival by adding more dates and events around the world.

Each year, the event hosts about 20,000 visitors and features musical performances, live action sports and interactive art exhibitions. Previous headliners include Kendrick Lamar and Post Malone. SnowGlobe will now serve as the backdrop for MTV’s New Year’s Eve coverage.

“With SnowGlobe, MTV is taking the natural next step in its resurgence by expanding deeper into live events, as we continue to reach our fans and capitalize on our strong brand in new ways,” says Chris McCarthy, president, MTV, VH1, CMT and Logo. “In a festival space where many events have become indistinguishable, SnowGlobe stands out with a unique mix of music, sports and art that makes it a favorite among artists and its growing audience.”

This year’s festival will see Above & Beyond, Diplo, Eric Prydz, Rezz and RL Grime headlining alongside 40 artists on three stages, new art institutions and a “Big Air” activation that highlights winter action sports.

SnowGlobe 2018 is set to take place Dec. 29-31 in South Lake Tahoe, Calif.