While the milestone 60th GRAMMY Awards will take place in New York City, it won't be long before the show heads back to Los Angeles.

The Recording Academy announced the signing of a new four-year agreement with AEG for Staples Center to host the GRAMMY telecast when the show returns to Los Angeles in 2019.

Staples Center has hosted the GRAMMY telecast a record 17 out of the last 18 years. The GRAMMY Awards are estimated to bring $82 million in economic benefit to Los Angeles each year of the event, marking a projected revenue of $328 million over a four-year span.

CBS will continue to broadcast the show live on both coasts through 2026, and the 2019 show will mark the 47th consecutive year the network has broadcast the GRAMMY Awards.

"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 Recording Academy President/CEO Neil Portnow. "We look forward to continuing this relationship and bringing the GRAMMYs back to the Entertainment Capital of the World."

2018 GRAMMYs: When will nominations be announced?