Ingenious’ Entertainment VCTs (www.ingeniousvcts.co.uk), which recently agreed terms for the successful exit of its stake in the Creamfields dance festival, has made an investment in Liverpool Sound City, a well-established three day international music, media and technology conference and live arts and music festival.
The forthcoming (May 17 – 19) Liverpool-based event consists of a network of conferences, expos and live gigs featuring both new artists and established stars. It attracts the world’s top creative and digital leaders to the city, where they can chart the future course of the music, digital and creative industries. The 2011 event captured a combined footfall of around 27,000 delegates and attendees and featured nearly 450 bands from 23 different countries across over 30 venues.
This year’s Sound City will host the UK Music Student Awards, which will take place in Liverpool’s Echo Arena headlined by UK rap artist Professor Green. A further innovation within the Echo Arena is the first “Sound City Expo”, a trade fair showcasing hardware, digital technology and a range of businesses from all over the world.
The event has recently begun a worldwide rollout. The inaugural New York Sound City was held in March of this year – it was a huge success and will most certainly reappear in 2013.
Ingenious’ investment will be used to facilitate the continued growth of the Sound City brand both in the UK and abroad, building on the ongoing success that has elevated Sound City to a status whereby it is regarded as the fresh face of a new dynamic and interactive type of event that borrows elements from conferences, trade fairs and live music festivals, but mixes them into a unique cocktail that is going from strength to strength.
Paul Bedford (pictured), Investment Director at Ingenious, says: “We are delighted to be working with the team at Sound City, who have a deep understanding of how the worlds of music and digital can complement each other. The events they develop have a relevance that too many others lack in this day and age. The success of the first New York Sound City also shows that this relevance is not just limited to the UK and we truly believe that Sound City can develop a worldwide brand over the next few years.”
David Pichilingi, CEO of Sound City, says: "Both the team and I are very excited about the strategic alliance with Ingenious. We have developed a new, exciting and innovative customer experience for music lovers and those in the business of music and digital. Paul and his team share our vision and we will work closely together to develop the Sound City brand in overseas territories as well as strengthen our UK position.”
Ward Hadaway, the UK Top 100 law firm which provided legal advice on the investment, has been confirmed as the Official Entertainment Law Firm for Liverpool Sound City for the second year running.
Melanie Yeomans, Partner in the Corporate Finance team at Ward Hadaway, who led the firm’s advice to Sound City on the Ingenious investment, said: “We are delighted to have assisted Sound City on this exciting deal. The combination of Ingenious and Sound City’s know-how when it comes to the music and digital sectors promises to make for a very exciting future, not just in the UK but also overseas.”
