On The Cutting Edge Of Growth

Buoyed by what it sees as the likelihood of further growth in the live music sector, major specialist investment fund Edge Performance is looking for another £25 million to plough in.

Already placing the £20 million it raised in 2006, David Glick’s publicly listed venture capital trust is tempting investors by highlighting the fact the Office for National Statistics reckons yearly expenditure on live entertainment is well past £2 billion.

Mintel’s research analysts predict the National Arenas Association will report a major boom in business for 2007.

The company also says the opening of the new Wembley Stadium and the O2 Arena, plus the refurbishment of the Royal Albert Hall, will increase the scope for even more live shows.

Glick and his board, which includes former EMAP chairman Sir Robin Miller, Eagle Rock Entertainment co-founder Julian Paul and Twenty-First Artists chief exec and Elton John manager Frank Presland, recently announced a first dividend to its ordinary shareholders of 6p per share.

The management team includes internationally known impresario Harvey Goldsmith, who described the future of live music as looking "very promising." The company already has agreements in place with major promoters including Manchester-based SJM Concerts and AEG Live U.K.

As well as investing in live events, Edge will also look at other entertainment opportunities including spin-offs from live events such as participation in sponsorship income, merchandising, DVDs, webcast and other distribution of events via the Internet and mobile technologies – plus income from CDs sold at live events.