Ingenious Ways To Profit From Music Boom

A company set up by a former adviser to Robbie Williams is hoping to persuade investors to stump up £50 million to take advantage of the U.K.’s live music boom, according to a November 13th report in The Times.

Ingenious Media, the specialist investment group founded by Patrick McKenna, is floating two venture capital trusts on the Alternative Investment Market (AIM), each dedicated to finding investment opportunities in live entertainment.

The paper quoted McKenna saying that live events are becoming an increasingly important component of media “as consumers seek unique shared experiences to augment their increased consumption of digitally delivered content.”

According to the Office For National Statistics’ Expenditure, spending on live events including theatre and exhibitions was £1.46 billion last year, a 50 percent increase from 2004.

The Ingenious trusts have been open for investor applications since November 8th.

– John Gammon