Shambala Festival has officially announced its transition to become the UK’s first-ever employee-owned festival. The move marks a significant shift for the independent event, as its original founders, Kambe Events, prepare to step aside and empower the festival’s long-serving staff to take the helm of the business.
The festival will now be governed by an Employee Ownership Trust (EOT), a structure designed to preserve its independent spirit. This decision comes as a direct response to the growing commercialization of the festival circuit, with the founders emphasizing their desire to protect the event’s unique culture from acquisition by venture capitalists or major promotion conglomerates.
Co-founder Chris Johnson reflected on the milestone, stating: “All of us at Shambala have an emotional stake in what we have built over 25 years; now everyone has an ownership stake too. We would be nothing without our people, and they deserve to carry on the Shambala legacy as beneficiaries.”
Fellow co-founder Dan Raffety echoed these sentiments, criticizing the current state of the industry. “It is patently clear that the current capitalist model is fundamentally broken,” Raffety noted. “As a society, we must explore alternative models of ownership as a way through which the massive power and potential of capitalism can be focused on serving humanity and the planet at large. Employee Ownership is just the next, natural step in Kambe’s adventures towards a utopia.”
Tom Berry, who has been appointed as the incoming chair of Shambala’s EOT, praised the initiative as a model for the future of the creative sector. “Employee ownership is the very best long-term option for people-focused businesses looking to protect their culture and reward their people,” Berry said. “The Kambe founders want a lasting legacy and employee ownership means everyone wins. I’m incredibly proud to be the team’s first EOT Chair.”