Today Harmonix Music Systems has announced that Rock Band 4 will be released for both PlayStation 4 and Xbox One.
The franchise is returning after a long hiatus, and the developer wants to bring it back with full force: you will be able to transfer all the DLC songs that you have bought to the new game, with no import fee attached to it. However, music on-disc will not transfer, due to licensing restrictions.
As for the previous gen instruments and their compatibility with this new gen, Harmonix is working with Sony and MS to create some kind of adapter that can make your old plastic instruments compatible with the new consoles. Also, say goodbye to your old plastic keyboard, which is not returning for this entry.
You can see the announcement/backstage trailer below.