The Proms, which had become a commercial and critical success for the north London venue and its BBC TV and Radio partners over the last five years, is expected to be replaced in the Roundhouse's autumn schedule by another festival with "huge artists and worldwide appeal".

Roundhouse head of music Dave Gaydon said he is talking to various new media partners and defining something of equal stature to the Electric Proms, which featured Elton John, Robert Plant, Paul McCartney, Shirley ...