The Grammys won't be staying on the East Coast for long.

According to Billboard, the 2018 Grammy Awards will be a one-time event in New York City, as the show will return to Los Angeles and the Staples Center in 2019 and will remain there through 2023. The Recording Academy recently announced that it signed a four-year deal with the AEG entertainment company to host the broadcast.

According to the report, the yearly show brings an estimated $82 million in economic benefits to Los Angeles each year it is held there. 

"We very much consider Staples Center our home and are grateful for the successful relationship we've cultivated throughout the years with AEG and the entire Staples Center team," said RA CEO Neil Portnow.

The upcoming Grammy Awards will be the award show's 60th anniversary and will take place on Jan. 28th, 2018. Nominees will be announced on November 28th.