Music Venue Properties (MVP), an independent Charitable Community Benefit Society (CCBS) launched by Music Venue Trust, has announced a new campaign that ties in with the time of year - ‘Give The Gift of Ownership’.
MVP was launched in 2022 to buy the freeholds of at-risk grassroots music venues
The new campaign is aiming to encourage music fans to gift shares in the scheme to friends and family this Christmas. MVP has already identified nine potential venue acquisitions throughout the UK, and the new Christmas campaign will raise further funding to pursue the project.
So far, almost £2.5m (€2.9m/$3m) has been raised from over 1,200 individual investors and the MVP crowdfunding platform ‘Own Our Venues’ has now reopened for further share sales to support the campaign.
Last month, it was revealed that the first acquisition had been made under the ‘Own Our Venues’ scheme.
Anyone is able to gift a share under the ‘Give The Gift of Ownership’ initiative with a minimum investment of £100 and no upper limit on donations. The recipients of shares automatically become a member and co-owner of the CCBS and its assets, and will also receive a guaranteed 3% APR return on their investment.
“By supporting the ‘Give The Gift of Ownership’ campaign music fans will provide much needed resources for Music Venue Properties to acquire the freehold of more at-risk grassroots music venues,” said Chris Prosser, director of Music Venue Properties.
“With 16% of the UK’s grassroots music venues having closed in the last 12 months at a rate of two per week, this initiative serves as a timely reminder that these are more than just spaces; they are cultural landmarks that have witnessed the rise of legendary bands and the birth of countless musical memories, while also acting as platforms for emerging artists to hone their craft and connect with fans.
“Giving the gift of ownership to friends and family this Christmas supports not only music but strengthens the communities these venues are a part of while proving that the public can and should take ownership of the cultural scenes they build.”