Live Nation just announced that they plan to start their own investment fund focused on development music-based business ventures spearheaded by women, according to Billboard.
The Women Nation Fund will help women in the realms of concert promotion and other live events like festivals with not only funding, but resources such as strategic advisory, industry contacts, and mentorship as well. Currently, women are majorly underrepresented both behind-the-scenes in concert and live show production, as well as on stage; with artists like Lily Allen calling out Wireless Festival for the lack of female performers and many festivals in general having an embarrassing lack of women in their lineups. Live Nation hopes the fund will act as a way to balance the scales globally in terms of production, which will inevitably have affect on what we see on stages as well.
"As the leader in live entertainment, we want to meaningfully address this issue, change the dynamic and widen the playing field," said Live Nation president and CEO Michael Rapino. "The Women Nation Fund is a first step towards empowering new entrepreneurs and creating more opportunity for women in this sector of the live music business."
A team of experienced female executives from Live Nation will judge the business who apply, including VP of Touring Kelly Chappel and Carrie Davis, who is currently the company's chief communications officers.
Visit the official website for more information.
