Oxegen music festival, Oxegen tickets, august bank holiday, punchestown racecourse, music festivals 2013, Calvin Harris and Jack Beats

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The Oxegen music festival resumes this year with a reduced capacity of 50,000.

Confirmation that the festival will go ahead was made this morning by promoters MCD.

It will take place on the August Bank Holiday between August 2nd and August 4th at the Punchestown Race Course, Co Kildare.

The event did not take place last year with the promoters saying they were taking a break for a year.

Capacity has been reduced from 80,000 to 50,000, reflecting the economic slowdown, which has hit the target demographic of 18 and 30 year-olds particularly hard.

Early bird tickets go on sale on April 26th.

A three-day camping pass is €149.50 while a two day weekend non-camping pass is €129.50, €75 less than 2011 ticket prices.

The line-up will be announced on Monday. Calvin Harris and Jack Beats have confirmed they will be performing.