Photo: John Matychuk | Unsplash
There is a shift taking place in the music venue industry; at least, in the UK. There has been a surge in venues looking to adopt community business models, where community, not private landlords, own music venues. "When we started in 2014, 3% of venues in the country had a not-for-profit structure and now it’s 26%," said Mark Davyd, chief executive of Music Venue Trust. Venue operators often feel little incentive to invest in a rented building when all that does is increase its value and make it an appealing selling prospect for landlords. Community business models, though, open venues up to funding and grants they wouldn’t have had access to as a limited company. And because they need to use their assets for the benefit of the community, it can actually accelerate improvements to infrastructure. Another benefit of the model is the opportunities for education, training and apprenticeships for young people in the community. "We’re trying to create jobs for local people. Our objectives are to make life better and to improve life chances for as many people in Frome as we can," said venue director Steve Macarthur.
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