LOS ANGELES (AP) — Microsoft Theater in downtown Los Angeles is changing its name to Peacock Theater, and the open-air plaza next to it will be known as Peacock Place.

The changes take effect July 11 as part of a multi-year naming rights deal between Peacock, NBCUniversal’s premium streaming service, and sports and live entertainment giant AEG.

The deal announced Thursday is Peacock’s first naming rights agreement.

The 7,100-seat theater hosts concerts and special events, including the Emmy Awards. The 40,000-square-foot plaza will change its name from XBOX Plaza.

The deal includes adding a LED marquee at the corner of Figueroa Street and Olympic Boulevard featuring two video boards that will promote Peacock's series and special events at adjacent L.A. Live, the sports and entertainment district. Also part of the plans are a branded content studio.

"We are looking forward to the opportunity to collaborate with Peacock to create new content and programming to complement our existing roster of amazing concerts, awards shows and special events we are known for at all of our iconic L.A. Live venues,” said Lee Zeidman, president of Crypto.com Arena, Peacock Theater and L.A. Live.

In December 2021, Staples Center, across the street from the theater, changed its name to Crypto.com Arena.