As the organisers of last weekend’s Glastonbury festival begin clearing the rubbish left behind by 177,000 revellers at Worthy Farm in Somerset, another live music business is eyeing the chance to clean up in the burgeoning festivals industry. Vince Power, the live music entrepreneur who founded the successful Mean Fiddler Music Group plc, has brought Music Festivals plc to the Alternative Investment Market. The business is starting with two festivals, one in Spain and the other in England, and is planning to buy-and-build its way through a market which is thought to number 700 music festivals in the UK each year alone.

Music Festivals is raising £6.5 million on flotation through a share placing priced at 65p and convertible loan notes. It is exercising call options to acquire five festivals including Benicassim in Spain and Hop Farm in Kent, both of which will see top global artists headlining this year. Power’s strategy is to blend organic growth with acquisitions both in the UK and further afield in order to take advantage of the fragmented festivals market. Music Festivals has also entered into call option agreements with Power to acquire the rights to three new festivals and is intending to promote the festivals during 2011 and beyond. They include The Feis Festival, a classical music festival and a pop music festival.

Power said: “We are delighted to bring Music Festivals to AIM, with it being the first quoted pure music festivals business, and would like to thank investors for their support. This listing will give everyone the chance to own a part of the thriving live music industry.”

The Benicassim festival is an annual music festival which takes place in the port town of Benicassim, Spain, with a focus on live indie rock, pop and electronic music acts. The first festival took place in 1995, since when it has been held annually. Many world renowned artists have played at the festival including Paul Weller, Kings of Leon, The Chemical Brothers, Blur, Franz Ferdinand, Morrissey, Scissor Sisters, Oasis and The Killers. The 2011 festival is scheduled to take place between 14-17 July 2011, with Arcade Fire and the Strokes as the headline acts. Power became involved with the festival in 2005 and took the decision to bring the 2006 event forward by a month to July, so as to ensure that the growing event did not clash with…

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