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With the absence of the Big Day Out, it's now the country's largest urban music festival.
Around 12,000 punters are expected at Wynyard Quarter from 11am, with 10 hours of music to be enjoyed across four stages.
With 34 acts scheduled, today's festival features one of the widest genre representations yet, with everything from folk to hip hop, heavy rock to electronica, funk to indie pop, and various reconfigurations of everything in between.
There are Australians, Americans, Brits and Scandinavians as well as local acts on the eclectic bill, ranging from up-and-comers such as Heavy, Bespin, and Vic Mensa, alongside long-established acts like Belle & Sebastian, Little Dragon, St Vincent and Flying Lotus. There are also new international artists making big waves such as Banks, FKA twigs, Future Islands, Jungle, Tiny Ruins and Royal Blood.
There are no fairground rides, fireworks, or water slides at Laneway -- it's all about the music. And to keep everyone cool, organisers have promised 1500sq m of shade.
There will be plenty of food trucks serving an array of international cuisine, as well as three bars where punters can quench their thirst, using the token system that has been employed in previous years.
Tickets for the festival sold out on Saturday. Auckland festival co-promoter Mark Kneebone said organisers were surprised how quickly they sold.
"We had 2000 extra tickets for sale this year, so to sell out is fantastic," he said.
Following the sell-out, several ticketholders have taken to Trade Me to try make a quick buck. With tickets originally selling for $146.30, several have been listed on the online auction site at close to $250.
Mr Kneebone said scalping was something every festival had to live with.
"We would like to be able to do more to prevent it, but legally our hands are very much tied," he said.
The concert is in between the Waitemata Harbour and towering Silos on the corner of Beaumont St and Jellicoe St at the Viaduct.
- Lydia Jenkin of the New Zealand Herald