understands that Sister is becoming a minority shareholder in Koko with a 40 percent stake, the rest owned by CEO/founder Olly Bengough, who bought the venue in 2004. Sister also funded less than 50 percent of the restoration costs.
The new-look Koko — which has expanded to incorporate two neighboring buildings — will be a live music venue spanning 50,000 square feet, with numerous performance spaces and studios fitted, and with high-spec streaming capabilities throughout. “It’s never been more important to support the next generation of artists and storytellers to collaborate, innovate and share their work. Although we’ve all been eager for the return of live music we’ve also been discovering new ways to engage with the artists we love through their creative endeavors in the digital space, keeping us united as a global community,” said Murdoch.
“It’s this connective power of music and the arts that Olly and his team are harnessing as they develop Koko into London’s first next generation global entertainment experience. At Sister we’re really excited to partner with Koko and to use our collective expertise, networks and shared independence to forge creative collaborations and empower artists and audiences around the world.”
Koko marks the latest in series of investments by Sister, which began life when Featherstone launched Sister Productions in 2014 and became Sister in 2019 with the addition of Snider and Murdoch. Backed by Murdoch’s considerable financial muscle, it has taken stakes in South of the River Pictures, the production company launched by Ed Sinclair and Olivia Colman, plus Molly Stern’s publishing venture Zando, podcast studio Campside Media and comic book and digital media published AWA Studios.
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One in three music industry jobs were lost during pandemicMusicians as well as people working in venues and recording studios were particularly affected.
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