A prominent music venue in the UK, known for launching the careers of Oasis, Radiohead, the Smiths, and Ed Sheeran, will be shutting down after 45 years. Additionally, the 26-year-old music festival Nozstock is also ending due to financial pressures caused by the cost of living crisis.
The establishment Moles in Bath has shut down permanently, effective immediately, and all upcoming events have been cancelled. The owners expressed that it was a difficult decision that they were forced to make due to rising expenses for inventory, utilities, and rent, as well as the impact of the crisis on their customers. Co-owner Tom Maddicott stated that these factors made it impossible to keep the venue open.
This decision is undoubtedly challenging for our team, staff, local community, and the talented artists who have contributed to the rich musical history of this venue. Unfortunately, the reality is that hosting live music at a grassroots level is no longer financially feasible, and we are not the only venue facing closure as a result.
Maddicott urged for a significant overhaul of the live music industry and for larger companies to assist in developing emerging talent. He emphasized the importance of investing in the grassroots sector to ensure a steady stream of up-and-coming musicians. Using the example of football, where the Premier League invests millions in grassroots programs to foster new players, Maddicott stressed the need for the music industry to follow suit and prevent the collapse of the grassroots sector.
Since opening its doors in 1978, Moles has earned a legendary status hosting and championing live music. The 220-capacity venue on George Street in Bath has hosted early shows for major artists such as the Killers, Pulp, Fatboy Slim, Blur, the Cure, Eurythmics, Wolf Alice and Idles. Manic Street Preachers were signed after playing a gig there.
The announcement of its shutdown follows a warning from the Music Venue Trust (MVT), which represents small music venues in the UK, that they are facing a serious crisis. According to the non-profit organization, 125 venues have shut down in the last year, resulting in 4,000 job losses, 14,250 cancelled events, 193,230 missed performance opportunities, £9 million less income for musicians, and £59 million in lost economic activity.
Several new locations have been established, resulting in a decrease of 12% in the total number of venues affiliated with the organization, leaving a total of 835. The remaining venues had an average profit margin of 0.2% in 2022, which was described by charity leader Mark Davyd as being very close to zero.
Davyd added: “Today is a very sad day for our sector. Grassroots music venues like Moles, one of the best loved and most efficiently run venues in the country for almost 45 years, have done everything they can to keep afloat, investing every penny they can into trying to fulfil their commitment to live music.
Many establishments like this one across the nation are shutting down, even though they play a vital role in supporting emerging artists who will eventually bring in millions for the larger music industry. To put it frankly, those who benefit from their hard work have greatly disappointed them. If the industry does not take its responsibilities seriously in promoting, supporting, and fostering the grassroots live sector, it will ultimately lead to a devastating lack of artist development for the entire industry.
On Tuesday, organizers of the Nozstock: The Hidden Valley music festival in Herefordshire announced that its 2024 event would be its final one, ending a successful 26-year run. In a statement, they expressed their love for the event and the hard work put in by their crew to keep it going. However, due to the losses suffered during the Covid pandemic and the current cost-of-living crisis, the financial risk has become too high to continue.
In response to the statement, John Rostron, the head of the Association of Independent Festivals, expressed concern about the current state of the cultural industry, stating that this should be seen as a sign of the precarious circumstances that many are dealing with.
In November, Nass, a festival featuring music and extreme sports, announced that it will not be returning in 2024. The organizers stated that the reason for this decision was due to the high cost of living and rising operational expenses.
Source: theguardian.com
