"Lollapalooza is an American music festival featuring rock, alternative rock, hip hop, and punk rock bands, dance and comedy performances, and craft booths. Organized in 1991 by Perry Farrell, singer for the band Jane's Addiction, Lollapalooza ran annually until 1997, and was revived in 2003. Many feel that the festival encapsulated American youth culture for the 1990s much as Woodstock did for the 1960s; Lollapalooza Generation is sometimes used as a synonym for Generation X.
From its inception through 1997, and a revival in 2003, the festival toured North America. After poor ticket sales forced the 2004 tour to be canceled, it was retooled in 2005 by Austin, TX based Capital Sports Entertainment into its current format as a weekend destination festival in Grant Park in Chicago."