Which is the best music festival in our current time?

I’d vote for Bonnaroo. I go almost every year and it has never ceased to amaze me. They bring in such a wide variety of musicians and entertainers, everyone is so happy, and there is a perfect mix of people.

Grass Valley Bluegrass Festival

It would be hard to argue with Live Aid, just for all the performers.

Coldstream Guards
Status Quo
The Style Council
The Boomtown Rats
Adam Ant
Ultravox
Spandau Ballet
Elvis Costello
Nik Kershaw
Sade
Sting and Phil Collins (with Branford Marsalis)
Howard Jones
Bryan Ferry (with Pink Floyd’s David Gilmour on guitar)
Paul Young
U2
Dire Straits (with Sting)
Queen
David Bowie (with Thomas Dolby on keyboards) );
The Who
Elton John (with George Michael and backing vocals by Andrew Ridgeley),
Freddie Mercury and Brian May (Queen)
Paul McCartney
Band Aid (led by Bob Geldof)
Bernard Watson
Joan Baez
The Hooters
Four Tops
Billy Ocean ;
Black Sabbath
Run–D.M.C.
Rick Springfield
REO Speedwagon
Crosby, Stills and Nash
Judas Priest
Bryan Adams
The Beach Boys
George Thorogood and the Destroyers
Simple Minds
The Pretenders
Santana and Pat Metheny ;
Ashford & Simpson
Madonna
Tom Petty and the Heartbreakers;
Kenny Loggins
The Cars
Neil Young
The Power Station ;
Thompson Twins ;
Eric Clapton
Phil Collins
Led Zeppelin
Crosby, Stills, Nash & Young
Duran Duran
Patti LaBelle
Hall & Oates
Mick Jagger/ Eddie Kendricks / David Ruffin)
Tina Turner
Bob Dylan, Keith Richards and Ronnie Wood
USA for Africa (led by Lionel Richie)

Well, it all depends on your taste.

The best music festival I ever went to was L.A. Murderfest 3.0, which obviously wouldn’t appeal to everyone. I loved it though! (They also sold the best veggie burgers there. Weird.)

Sadly, they only had a few Murderfests. I wish they would bring it back.

Glastonbury has to figure pretty highly. I’ll probably never go again, I’ve been so many times and seen it grow so huge I just don’t feel it can offer me any more but it really is something special. I’m more into smaller festivals these days like Beatherder.

mtv music awards.

Lollapalooza

Festival: Glastonbury.
Reason: Because.

I love Winnipeg Folk Festival. Great variety of performers and love the atmosphere.

The BBC Proms

It depends on your taste in music, as @8Convulsions said. I like folkie stuff, so I can recommend a couple of those. Newport Folk Festival (RI) is probably the most well-known and professional folk festival in the States, but it tends to be expensive. Falcon Ridge (NY) is great because lots of people camp on-site and a real sense of community develops. Plus, lots (all?) of the work is done by volunteers.