In 1966 he and Ron Delsener co-founded the Rheingold Central Park Music Festival, sponsored by Rheingold Beer. By 1968, Delsener had changed beer sponsors to Schaefer and Kristal was no longer involved. The festival took place every year until 1976 in Central Park and featured musicians from a range of genres, including Miles Davis, the Who, Chuck Berry, Bob Marley, B.B. King, Led Zeppelin, the Beach Boys, Frank Zappa, Ray Charles, Patti LaBelle, Ike & Tina Turner, Fleetwood Mac, the Allman Brothers, Slade, Kris Kristofferson, Curtis Mayfield, Bruce Springsteen, Aerosmith and the Doors.