Pori Jazz festival organization proposed to transfer to limited company in Finland

The organization of the Pori Jazz festival is proposed to be transferred to a new limited company. According to a statement, the shareholders of Pori Jazz Festival Ltd. would include, in equal shares, the Swedish Cultural Foundation in Pori (SKiB), Satakunta Cooperative Society, and the Korsi Foundation.

Negotiations among the parties have taken place throughout the autumn, and Pori Jazz 66 association will discuss the collaboration in its meeting next Monday. A press conference regarding the matter is scheduled for this afternoon.

Pori Jazz has experienced several years of financial losses. The organization recently underwent reorganizational negotiations due to its poor financial situation. The festival has previously announced its search for partners to help stabilize its finances.

This summer, Pori Jazz attracted 32,000 attendees to its main concerts at Kirjurinluoto, a significant drop from the 61,500 visitors in the previous year. Even with last year’s high-profile artists, the event reported a loss of €370,000, according to Yle’s information.

Pori Jazz announced its first confirmed act for next year’s festival back in September, with English artist Sting scheduled to perform on July 19.