Activision announced that the Guitar Hero series is making a comeback with Guitar Hero Live, a new installment with some changes being made to the presentation as well as the gameplay. According to the information from the article I read, which I'll post a link to, there are no in game crowds or bands, instead, this game uses footage of real crowds that will react depending on how well you perform.
Additionally, the guitar being used in this installment is different in design when compared to previous Guitar Hero guitars. Its design is more similar to that of a real guitar, with there being separate buttons to represent different chords, though the strum bar looks the same.
From Guitar Hero 3 and onwards, former developer Neversoft handled the series, GH Live is being developed by FreeStyle Games, the studio responsible for the awesome DJ Hero. With a new installment in the Rock Band series being announced a few months ago, I'm glad that the music rhythm genre is seeing a comeback. I just hope the publishers of these games don't try to oversaturate the genre again, similar to what happened back in 2009 with there being one too many Guitar Heros and Rock Bands being released within one year. Still, it's good to see new installments in these established franchises get announced.
Link to article: http://www.gameinformer.com/b/news/archive/2015/04/14/guitar-hero-live-revamps-franchise-with-live-action-gameplay-and-new-guitar-controller.aspx