THE Gold Coast is cementing itself as the music festival capital of Australia - and in the process stomping to the beat of a consistent cash injection.

Now home to events including the Big Day Out, Good Vibrations, Summafieldayze and the V Festival, the Gold Coast is the number one destination for touring bands and festival folk who want to 'groove in holiday paradise'.

After building a sterling reputation in the past 11 years as a leading UK music festival, V Festival Australia will introduce a new level to the Australian festival market with an eclectic mix of hot international and local acts.

The V Festival this year spread its wings internationally, launching in Canada and the US in September.

Entrepreneur and man behind the brand Richard Branson says the event will bring an international and diverse flavour of music to the Gold Coast.

"Queensland is one of my favourite places in the world. I can not imagine a better day than enjoying wonderful music in such a beautiful and relaxed place," says Mr Branson.

"I am thrilled we have our first ever V festival there, with one of the best lines ups that the Australia festival scene has seen for some time."

Headline sponsor Virgin Mobile has signaled its intention to move aggressively into the music space.

Virgin Blue will be V Festival's exclusive partner for flights, accommodation and V Festival travel and ticket packages. One dollar from the purchase of every ticket will be donated to Virgin Unite, the charitable arm of the Virgin Group. 

From The Pixies to the Pet Shop Boys, Groove Armada, Gnarls Barkley, Beck and the New York Dolls, the bill for the inaugural Australian events fits V's international ethos of bringing together a rich variety of influential bands - many of whom have never toured our shores before.

Last here in 2003, the innovative, multi platinum-selling artist Beck was a late addition to the line up.