The BRIT Awards are to undergo a huge revamp next year.
The annual ceremony - one of the biggest events in the music calendar - will have a new venue, committee, logo and a format based on the Oscars with the Album of the Year prize set to take centre stage.
A source said: "The new committee is ripping the guts out of the old BRITs. The idea is to make the Best Album award like the Best Film at the Oscars. They loved the drama this year when no one knew if 'The Hurt Locker' was going to win Best Picture ahead of 'Avatar'.
"That sense of drama has been lost from the BRITs and they want to get that back. This is an exciting, fresh start with none of old cliches getting in the way of celebrating what matters - the best music of the year."
The Album of the Year will be voted for by fellow artists rather than industry executives as organisers believe they have more relevance.
BRITs chairman David Joseph said: "Artists are the most valuable part of our industry so inviting them to join the Voting Academy is an obvious step."
The ceremony - which will take place on February 15 2011 - will be held at London's O2 Arena rather than Earl's Court, which has played host to the event for the last several years.
Designer Vivienne Westwood has been brought on board to help create a new awards statue which the winners will receive.