LIVE (Live music Industry Venues & Entertainment), which represents 15 live music industry organisations, has launched the Live Trust.
According to the announcement, the Live Trust is “a transformative new funding initiative that will offer much needed financial support to those working across live music – artists, venue operators, promoters, festival organisers and more”.
Established by and acting on behalf of the live music industry, which contributes £6.1 billion to the UK economy while employing 230,000 people, the LIVE Trust will deliver funding with an initial focus on the grassroots music sector.
It follows the proposals for a voluntary levy on stadiums and arenas, supported by the government and the Culture, Media & Sport Committee. The LIVE Trust would become the organisation tasked with distributing monies raised from such a levy.
Some 125 grassroots music venues close permanently in 2023, 78 festivals lost in 2024 and a 50% decline in tour dates over the last three decades.
The escalating cost of event production aligned with the UK’s continuing cost of living crisis has further put the squeeze on this vital part of the music ecosystem. The LIVE Trust will work to support those who are keeping venues open, festivals trading, artists touring and those involved in the promoting and staging of live music performances.
Initially the LIVE Trust will receive its funding from a voluntary contribution of £1 per ticket from arena and stadium shows with a capacity of over 5,000.
The launch of The LIVE Trust marks a significant step change
Jon Collins
The LIVE Trust has also appointed three founding trustees – Steve Lamacq MBE, the chair of LIVE, Kirsty McShannon, CEO of Azorra (commercial and business affairs advisors to the live music, festivals, events and venues industry) and James Ainscough, CEO of The Royal Albert Hall.
Additional trustees will be appointed in the coming months to ensure diverse representation from all elements of live music.
The funding strategy will be set on a periodic basis by these trustees, with input from LIVE and the wider UK live music sector, which will decide and control how money is raised, how much needs to be raised and where that money will be allocated.
A number of existing financial support schemes run by the members of LIVE will continue to run independently of the LIVE Trust.
Jon Collins, CEO of LIVE, said: “The launch of The LIVE Trust marks a significant step change in how the grassroots live music sector will be supported moving forward. By putting in place a robust infrastructure that can receive and allocate the financial resources needed to support the survival of this vital part of the music ecosystem we have responded to the appeals of the grassroots sector and the recommendations of the CMS Report that asked us to implement tangible and workable solutions. We would like to thank all of our members for their hard work in making this bold and ambitious plan a reality.”
PHOTO: The Blinders performing at The Ferret, which has been protected under the Music Venue Trust Own Our Venues scheme (credit: Michael Porter)
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