Pori Jazz festival plans future stability with new company amid financial challenges

Pori Jazz, the renowned music festival grappling with financial difficulties, plans to secure its future by establishing a new limited liability company. Previously reported, the stakeholders in Pori Jazz Festival Ltd. will include Svenska Kulturfonden i Björneborg (SKiB), Satakunnan Osuuskauppa, and Korsi Foundation, each holding equal shares. The entities outlined their plans in detail on Monday.

Under the proposal, the rights to the Pori Jazz name and associated intellectual property will remain with Pori Jazz 66 ry, while licensing rights will be granted to the new limited company through a long-term agreement. This agreement would also allow the association to appoint one member to the board of the forthcoming company. Furthermore, employees from the association will transition to the new entity as existing staff members.

Timo Santavuo, chairman of the Pori Jazz 66 association, acknowledged that the cooperative model has reached its limits for managing a festival of Pori Jazz’s scale. He emphasized that the compensation from intellectual property rights could help return to the original purpose of the association, namely promoting Finnish jazz music through scholarships.

Santavuo expressed enthusiasm about the potential partners involved, stressing that all three organizations are local entities focused on ensuring the festival’s development and continuity in Pori rather than pursuing profits.

Oskar Björndahl, chairman of the SKiB foundation, clarified that their participation aims to support cultural activities in Pori and the surrounding area without any profit motive. He highlighted the foundation’s commitment to preserving Pori Jazz as a vital local brand while noting that no specific content-related requirements have been established for this partnership.