The Music Venue Trust (MVT), a grassroots music charity, has acquired The Ferret, a popular music venue located on Fylde Road in Preston, UK. The 200-capacity venue, which has been threatened by closure due to its building being put up for sale, has housed some of the world’s biggest music acts such as Ed Sheeran, Buzzcocks, Alt-J, and IDLES since 2006. The MVT has purchased the venue, securing its future, and enabling the current owners to sign a “cultural lease” that guarantees that The Ferret continues to function as a community music venue without a change of function.
MVT’s Own Our Venues scheme is designed to safeguard, secure and improve grassroots music venues by resolving the issue of venue ownership. The purchase is part of the scheme, which addresses venue ownership, and is aligned with the charity’s goal of protecting, securing, and improving grassroots music venues. Venue director Matt Fawbert expressed his gratitude to MVT and the donors, saying that it gives the venue security and confidence to continue delivering great live music to the people of Preston.
Grassroots venues have had a tumultuous year with closures and reduced funding, according to a recent report. The MVT’s scheme aims to protect these venues from imminent closure. This acquisition is a vital moment, allowing The Ferret to share its love of music with a broad range of audiences, curating diverse music festivals and events. The intention of the scheme is to keep the spirit of diverse live music experiences alive and steer people’s interest from solely mainstream music.
Overall, MVT’s acquisition of The Ferret is an excellent step in the right direction. It provides a sense of optimism for the future of grassroots music, which appears bleak due to the consequences of the pandemic. The acquisition ensures a level of stability for The Ferret, enabling it to continue supporting local grassroots musicians and providing Preston with fantastic live music experiences
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