It has been announced today (January 30th) that Jazz FM, Neapolitan Music and The Ingenious Entertainment VCTs have completed a £2m investment into the UK’s first outdoor, camping jazz festival, Love Supreme Jazz Festival.
Set to take place in Brighton in the summer of 2012, the festival will play host to some of the world’s top jazz musicians and is expected to attract thousands of jazz lovers in its inaugural year.
Paul Bedford, investment director at Ingenious, commented: “At a time when sales of recorded music are in decline, the UK festival market continues to buck the trend and expand, making this sector of the entertainment business an excellent investment opportunity.”
Jazz FM managing director Yoel Kenan, said: "It’s an exciting time for jazz in the UK, with remarkable new talent emerging and a growing new generation of fans embracing the music of the 21st century jazz culture. Jazz FM has been promoting live events around the country for the last two years, so we’re delighted to be partnering with Ingenious to take this natural step to launch a three day festival, that will cater to a wide audience interested in the very finest jazz, soul, and blues."
Ciro Romano, managing director, Neapolitan Music added: "I am delighted to be launching the first major three day outdoor Jazz festival in the UK in partnership with Ingenious and Jazz FM. With Ingenious at the cutting edge of the UK festival market and Jazz FM the dominant player in its field, this is certain to be a unique event, distinct from the competitive pop and rock festival market.”
The Ingenious Entertainment VCTs are known for their investments in live events, and have recently agreed terms to exit from their respective investments in the Creamfields dance festival – providing investors with a strong return.