The Red Bull Music Academy and Red Bull Radio will close after more than two decades.

Both have been a staple in the indie music sector, allowing aspiring and growing artists a large platform to showcase their talents.

In a statement to Resident Advisor, Red Bull said: "After 20 years of supporting artists worldwide with its music program in a rapidly changing world, Red Bull will maintain its purpose of providing a global platform to promote creativity—but it is changing the means of delivery. Red Bull will be moving away from a strongly centralized approach, will gradually phase out the existing structure and will implement a new setup which empowers existing Red Bull country teams and utilizes local expertise. Red Bull will continue to explore new ways to support promising and cutting-edge artists wherever they may be."

Throughout their many years of operation, RBMA has hosted lectures, workshops, parties, and live concerts across the globe. They have also sponsored some of the largest Hip-Hop festivals in the country.

Their presence will be sorely missed.