Ingenious Hails Festival Sell Out Success

Ingenious Ventures, a leading manager of VCTs in the entertainment sector, today announces that two of its leading investments have completely sold-out of tickets, with a third festival rapidly approaching full capacity.

In a crowded market, Creamfields, Rewind Festival and Field Day have all experienced record demands and, having expanded their capacities in 2011, between them have sold nearly 200,000 tickets.

Investment in these projects has been made through the Ingenious Entertainment and Live VCTs (www.ingeniousvcts.co.uk), which invest in a range of music festivals, live events and television formats. To date, Ingenious has raised a total of £60 million for investment in the live and entertainment sectors.

The growing popularity of large-scale live music across the UK has been evidenced by the latest Adding Up The UK Music Industry report from UK music royalties body PRS for Music, which reports that while UK music revenues experienced a drop of £189m during 2010, the UK festival market bucked the trend, with primary ticket revenues up by nearly 20 percent. 

Paul Bedford, Investment Director at Ingenious, said: “We are delighted to see our festival investments go from strength to strength as they continue to attract record numbers of music lovers to each event.

“What sets us apart is our ability to identify experienced partners who have recognised niche opportunities within the sector, while our experienced team works closely with co-promoters to bring out the best in every event we invest in, developing brands to their full potential both on a domestic and international scale.

“We continue to explore a range of exciting investment opportunities for our investors in the live music industry and remain highly positive about the developing opportunities in the sector.”