Ticketing and events giant Live Nation has created a new early-stage investment fund called the Women Nation Fund. Its main focus is providing ‘access to capital for underrepresented female entrepreneurs in the Concert Promotions, Events, and Festival space’. The fund’s other focuses, however, include empowering women, creating a functional platform for them to thrive, and slowly closing the very visible gender gap that currently exists in the industry.
The way it works is simple- businesses can submit an application to Live Nation to form a proposal to receive funding. The only “rule” is that is the company must be female-founded and provide a service or product within the sectors of promotion, booking, technology, ticketing, and PR/marketing (this is a formality we can get on board with).
Live Nation’s President and CEO, Michael Rapino stated, “As the leader in live entertainment, we want to meaningfully address this issue, change the dynamic and widen the playing field. 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.”
The fund also has the endorsement of the Annenberg Inclusion Initiative at the University of Southern California. Their founder Dr. Stacy Smith commented: “Women are underrepresented across the entertainment ecosystem, but we see this, particularly in the music industry. One crucial way to kick-start the effort towards gender parity is to fund female entrepreneurs. I applaud Live Nation for their leadership and for committing its resources in a way that can affect real change.”
The issues of gender equality in the music business are still alive and well. That is why we could not be more thrilled to hear about this new initiative Live Nation is putting into action. They are using their large platform and corporate power to influence some much-needed change in the uneven business. You can find more information and submit your proposal for your female-founded business here.
P.S.- The whole project is being run by female executives at Live Nation. Here are the names of the women who will be empowering even more women to rise up in the overpopulated boys game:
Anna Sjolund (co-managing director/head promoter, Live Nation Sweden)
Amy Corbin (promoter, C3)
Virginia Davis (founder, G Major Management)
Amy Howe (COO, Ticketmaster)
Lesley Olenik (VP of touring, Live Nation)
Maura Gibson (president, Frontgate Ticketing)
Kelly Chappel (VP of European Touring, Live Nation)
Carrie Davis (chief communications officer, Live Nation).