Mayor Charles Meeker made the big announcement Monday morning.
He revealed this year's headlining act - but also made it clear the economy will make this year's celebration smaller than in years past.
This will be the fourth annual Wide Open. It all started with the partial re-opening of Fayetteville Street back in 2006 - an event that drew tens of thousands.
This time around, it's going to be - according the mayor - a "less exuberant" celebration. Last year, the budget for the party was $300,000. This year, it'll be $100,000 and most of that money will have to come from corporate donors.
"Right now we are seeking sponsors," said Meeker. "It's gonna be a somewhat smaller budget this year given the economy, but still ought to be a great show. So the ones who've helped us before, we'd appreciate very much your coming back, perhaps a somewhat lower figure this year."
Wide Open has been an event spanning a couple of days before. This year, it'll be one day only, Saturday October 24th.