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Farrell's Satellite Orbits Lolla

Perry Farrell is promising a whole new party at this year's Lollapalooza festival.

The former Jane's Addiction frontman and Lollapalooza cofounder plans to debut the Satellite Party, his new band/musical theater piece at this year's two-day fest, slated for Chicago's Grant Park on July 23 and 24.

Announcing the project in a conference call with reporters Tuesday, Farrell described Satellite as a collaborative musical performance that will weave together artists, dancers and guest musicians in a storyline. Backing the wiry singer for its debut performance will be ex-Extreme guitarist Nuno Bettencourt, No Doubt bassist Tony Kanal and renowned percussionist Gabriele Corcos.

Also just added to the bill is Primus, newly reformed last year after a five-year layoff. The Lollapalooza veterans join an expansive lineup that already includes a reunited Pixies, Weezer, Digable Planets, Billy Idol, the Killers, Liz Phair, And You Will Know Us By the Trail of the Dead, Widespread Panic, the Arcade Fire, Kasabian, Kaiser Chiefs, Blonde Redhead, Death Cab for Cutie and Louis XIV.

Those are a sampling of the 70-plus acts gracing five stages for what's being billed as Lolla's evolution from its days as a traveling circus on the amphitheater circuit to a one-stop arts and music extravaganza that aims to compete with the likes of Bonnaroo and Coachella.

"People just don't want to go to amphitheaters," noted Farrell. "People want to go to a destination. A lovely new place and experience that's not gonna jam them for parking, and beer and water...They want more for their money."

And it looks like they'll get it. A two-day festival pass is going for $115--a modest sum compared to, say, a $450 seat at a Rolling Stones concert--and single-day passes are available for $60.

Tickets are only being sold online at lollapalooza.com, but promoters say they're well on track to bring in some 30,000 fans each day--more than enough to make this year's Lollapalooza a success and a 180 from last year, when the tour was scrapped due to poor sales.

But Farrell said the Windy City event will help the festival get back to its roots. The granddaddy of all alt-rock tours was founded in 1991 to bring eclectic music to the masses.

"[Fans] want something that they can feel is a very fresh exciting experience that's once in a lifetime and go from there," Farrell said.

According to some industry observers, Farrell's reinvented Lollapalooza could prove to be a big hit.

"Chicago has been the single biggest market for Lollapalooza historically," Gary Bongiovanni, editor of the concert trade Pollstar, told E! Online. "The second year of Lolla they put Chicago on sale and sold out before they even announced any artists, which represents how much the brand means to the local people."

Bongiovanni also says the lineup is strong, featuring "several buzz bands, which is good" for drawing fans and fellow performers.

But don't plan on seeing his old band. Farrell has no foreseeable plans on reuniting Jane's Addiction, which split up last year after the rocker had a bitter falling out with the other members.

"My plans for Jane's is when the sky rains money, we're getting back together," he said.

But, says Farrell, he's considering getting back together with his other band, Porno for Pyros, and recording a new album next year, their first in nearly a decade.

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