Future Entertainment Companies Wound Up

Three companies associated with Australian promoter Future Entertainment were put into liquidation by the Supreme Court of Victoria.

In June, Future Entertainment legally changed the names of the three – from Future Entertainment to Music Events Holdings, Future Tours to Music Events Tours and from Future Events to Music Events Operations.

Set up in 1999 by Jason Ayoubi and Mark James, Future Entertainment ran the successful Future Music in Australia and Malaysia, the under-18 Good Life and Summerdayze festivals as well as individual tours.

The erstwhile companies owed A$22,215 ($20,471) but creditors requesting anonymity put the figure closer to A$500,000 ($460,133).

Court documents showed that Future’s accountants met an administrator in Sydney last November. In late August, Michael Gudinski’s Mushroom Group and Frontier Touring took a stake in Future Entertainment.

Gudinski scrapped Summerdayze but has long-term plans for Future Music.

He told the Melbourne Age, “We’ve got a massive job ahead with the Future Music Festival. We want to make it a much better experience for the people who are going.”