Despite opposition, Wireless Festival will be permitted to take place every summer in Finsbury Park until 2027.
The north London park will receive "significant income" from the festival, according to Haringey Council, which signed a five-year agreement with the festival's promoter.
The annual event had previously been planned on an annual basis.
Local opposition group Friends of Finsbury Park argued that locals would not benefit from the proposal and opposed it.
Also stated was that the event would be subject to less supervision.
The group has previously tried to stop the festival's activities by making complaints about the noise levels, drug use, and anti-social behavior.
Since 2014, the park has hosted the annual rap and urban music festival, with the exception of 2020 and 2021 when Covid-19 restrictions were in effect. The festival regularly draws crowds of up to 50,000 people per day.
Despite acknowledging in a report that the agreement will "reduce the income level received," Haringey Council claimed that the five-year contract will ensure money will be available to pay for the park's maintenance.
According to the Local Democracy Reporting Service, Friends of Finsbury Park claimed that the agreement was "about money, not culture.".
Clearly, council budgets are constrained. However, Haringey Council is investing heavily in parks in other parts of the borough. Inversely, this deal seems to give Finsbury Park less money, the group claimed.
The Highbury Community Association also objected to the agreement, voicing similar worries and warning that standards might deteriorate over the course of the five-year period.
Events of the magnitude of Wireless, according to Alexandra Worrell, a Labour councillor for Stroud Green, are "unsuitable" for the park.
The events, according to the council, bring in about £1.22 million annually for Finsbury Park, funding the upkeep crew and improvements like a new play area, air-quality monitoring stations, and a larger skate park.
In accordance with the agreement, festival promoter Festival Republic will also be permitted to host a second weekend of significant events in the park each year.
Two days of free community events will also be held.
"Events are an important opportunity for residents, especially our young people, to access world-class music and culture in an affordable and sustainable way," said Peray Ahmet, the leader of the council. "They also bring in significant funds to help us manage and improve the park. ".
A comment from Festival Republic has been requested.