LONDON, March 31, 2015 /PRNewswire/ --
Vision Nine, one of the UK's leading event and festival operators, announced today that it has secured £5 million in new financing to accelerate the company's development of new entertainment IP within lifestyle sports, arts and music markets.
The company will use the funding to create brand new festivals, tours and shows. The funding initiative, led by Ingenious, will also be used to expand the company's growing events portfolio and to accelerate the expansion of owned IP events internationally. Ingenious has been appointed as Vision Nine's adviser - providing strategic input to help deliver the company's future growth.
Former MAMA Group founders Adam Driscoll and Philip Murphy will lead the expansion alongside Vision Nine founders and directors Julian and Andrew Topham. Paul Bedford, from Ingenious, has joined the board as Group Finance Director. These five Vision Nine Group directors have extensive experience in the creation, development and operation of live events and festivals and turning them into globally recognised entertainment brands. Collectively they have worked on brands including Boardmasters, The Great Escape, Lovebox, Global Gathering, Creamfields, Rewind, SW4 and Love Supreme.
Vision Nine is based at the heart of one of the UK's most exciting growth sectors - live entertainment. The funding, which comes via the government-backed Enterprise Investment Scheme (EIS), will help the company continue its development as a leading independent, multi-faceted festival and events company. The company aims to capitalise on the growing demand for lifestyle focused live events that deliver experiences built around audience passions.
Vision Nine has had strong success in marrying lifestyle passions with live event experiences. The company founded and operates Boardmasters, the world's only surf, skate and music festival. It also owns action sport and music festivalNASS together with snow sport and music event The Freeze Festival. Vision Nine also promotes theatrical productions and touring shows and, in association with BBC Worldwide, is staging the first ever UK shows of the Doctor Who Symphonic Spectacular in arenas across the country.
The company also manages and delivers events on behalf of world-renowned brands including Coca Cola, Microsoft, Vans, EE and Adidas.
Co-CEOs Julian Topham and Adam Driscoll will focus on the development and financing of new entertainment properties, whilst joint Managing Directors Andrew Topham and Phil Murphy will focus on the management of Vision Nine's business and the promotion of its existing live events and festivals.
Adam Driscoll, Co-CEO at Vision Nine commented:
"The live entertainment sector is in an exciting phase of development. The boom in live music has led to audiences seeking ever more engagement with live experiences. This new funding will allow us to take our IP into international markets, as well as helping us to capitalize on the many opportunities that are available to us. We are aiming to deliver substantial growth in the next few years."
Julian Topham, Co-CEO of Vision Nine added:
"Creativity is key in today's live entertainment sector and Vision Nine has proven adept at curating events that connect with an audience's passions. Alongside our existing events we are developing new entertainment brands with significant opportunity for growth. We are aiming to launch two new ventures shortly that we believe will be groundbreaking formats."
Paul Bedford, Senior Investment Director at Ingenious, said:
"At Ingenious, our Live Events team has invested over £100 million into the live sector on behalf of our clients. Vision Nine represents a very exciting opportunity for investors - a great brand and an impressive team with massive potential. We are delighted to add our proven experience of structuring, promoting and managing investment opportunities across the entertainment industry."
SOURCE Vision Nine