Critics soon, however, pointed out the corporate encroachment on the concert and the heavy ticket prices, as well as having mainstream acts. Later, in the decade, the popularity of the venue fizzled as alternative rock's popularity died down. In 1998, the festival was cancelled.
In 2003, Farrell relaunched the Lollapalooza tour with his reunited band. However, this festival achieved only marginal success and was cancelled the following year. In 2005, Farrell in collaboration with Capital Sports and Entertainment launched it as a two day destination festival in Chicago, Illinois. This was successful and the current format is going strong today, in fact, the festival is going on this weekend in Chicago.