Finance your festival, your venue or your tour by issuing bonds or shares.
In music and events you pay months before you get paid. Your public limited company can issue bonds or shares, with an authorized entity (ESI) when the law requires it and an ERIR that registers the securities. You decide who to offer it to with your law firm.
How this is financed.
In music and events you pay months before you get paid. To issue bonds or shares, it is advisable for the business to be an S.A., and for that company to be the issuer. Tokenizing means recording the security it issues in a digital register. The security and its rights do not change.
- A festival edition, a tour or a refurbishment with projected revenue is a good fit for bonds.
- A short gap between what you pay and what you collect is covered with commercial paper.
- If you want the investor to become a shareholder and keep the majority, you can issue shares.
- If your income comes from royalties, see royalties and intellectual property. This option requires a legal review of your case.
Indicative curve for a festival. There is often an audience and revenue, but cash is short before the date.
When it fits and when it doesn't.
It fits if
- Your business is an S.A. or can become one.
- You have a revenue schedule that covers the payment dates.
- You have a plan, reviewed with your law firm, to reach your investors.
It does not fit if
- You want to sell tickets, perks or digital collectibles. In general, that is not a financial instrument, and HokenFi does not cover it.
- You want to finance third-party events.
- You need the money in days. Preparing an issuance takes months.
- You expect someone to find investors for you. HokenFi does not find them.
Which instrument to choose
| If you want… | What suits you | What you take on |
|---|---|---|
| Fixed term and interest, without ceding equity | Bonds and debentures | Pay on time even if the project performs worse |
| Cover less than a year until you receive payment | Commercial paper | Repay each commercial paper at maturity |
| For the investor to share the result | Shares | Give up equity and voting rights. Requires an S.A. |
| Get financing from a few people you already have a relationship with, also in an S.L. | Participating loan | Tie part of the interest to how your company performs |
For each business, its example.
Fictional companies and figures. The 8% is not a forecast or expected return. All are based on an S.A.
FestivalFinalize the lineup with a bond issuance
Three days and 30,000 attendees. It pays artist fees and setup months before revenue comes in. Bonds of €1,000 over 18 months.
If the edition goes badly, the bond may not be repaid.
FestivalSelling a stake to your investors instead of to a fund
Valued at €3M. It wants to grow without losing control. Shares: 1,200 investors, €500 each.
A share can lose value and today there is no market to sell it.
NightclubUpgrade sound and venue before the season
Club with 15 years of history. It needs new sound system and booth. Bonds of €1,000 over 4 years.
A poor season or a licensing issue affects payment.
VenueBuying the venue with a bond issuance
Venue for 600 people. The owner is selling the premises for €1.5M. Bonds of €1,000 over 7 years, with a mortgage on the premises.
If the venue does not pay, the mortgage remains, and the venue may be worth less.
PromoterFinance a 12-date tour
Twelve concerts in venues with capacity for 5,000 people. Almost everything is paid upfront. Bonds of €1,000 over 12 months.
A weak tour or a cancellation affects repayment.
PromoterHaving cash for the whole year
30 concerts per year. It needs cash for deposits. Company bonds of €1,000 over 3 years.
It depends on the whole company. It only applies to its own activity, never to third-party events.
GroupAdvancing royalties without selling the songs
Three albums. Its company owns the masters and earns €120,000 per year. Bonds of €1,000 over 8 years, paid with royalties.
If streams fall, payment may not arrive. Check who the rights holder is first.
GroupRecording an album without a label advance
Loyal fanbase. It needs money for an album and tour and wants to keep its masters. Bonds of €500 over 3 years.
The band may not repay it. With small amounts, fees carry more weight.
How it's done with HokenFi.
You tell us what you want to issue and the platform prepares the milestones for you.
- 01
Your company
A corporate law firm sets up the project company, if needed. You choose it from offers without leaving your account.
- 02
Your issuance document
A law firm specialized in securities or an investment services firm (ESI) drafts the issuance document. You also choose it from offers.
- 03
Your issuance
You create the tokens for your issuance. You start paying for the plan when you launch it.
- 04
Go to market
The authorized entity (ESI) validates investor information and supervises the sale when required by law, and the ERIR registers the securities. You open the issuance collection account, with its own IBAN. It is the automated IBAN plugin, for €199 per month, included in Scale and Institutional for a company.
- 05
You open the issuance to your investors
Your investors are verified, subscribe and pay by transfer to that account. The ERIR records them as holders and you see the list on your dashboard.
The milestones for each step are in bonds and debentures and in shares.
In music and sports, this has already been done.
None was carried out with HokenFi or under Law 6/2023. They serve to explain the idea. A bond does not fix a bad business: if it does not generate enough to pay, the investor may lose their money.
In Spain, today.
As of October 29, 2026, the CNMV register lists 23 issuances with ERIR registered, for €93.7M and a median amount of €4.6M. By their names, none is music-related. Nor have we found any offering from a Spanish festival to its fans.
Get the eight examples.
Thirty pages with the figures for each case, the precedents and what can go wrong. Designed for you to read with your partner or your adviser.
A document for companies, not for investors. It is not a securities offering or an investment recommendation.
The guides on this topic.
Frequently asked questions.
Can I offer it to the general public?
It depends on how and to whom you offer it. If the offering is made without a prospectus and is advertised to the public, an authorized entity (ESI) must be involved. Whether there is a test and who performs it, you establish with your law firm and that entity before announcing anything.
Do I need an S.A.?
For shares, yes. An S.L. has ownership interests, which are not securities. For bonds, it is advisable: an S.L. cannot exceed twice its own funds except with a mortgage, pledge of securities, public guarantee or bank guarantee.
Does the investor own the festival or the songs?
With bonds, the investor is a creditor of the company. With shares, the investor is a shareholder. The songs and the brand remain with the company.
Is it the same as a collectible for fans?
No. A bond or a share gives economic rights and follows securities regulations. A fan perk, in general, does not.
Can the bond include tickets or perks?
Your law firm assesses it in each case. HokenFi does not manage benefits or tickets.
How much does it cost?
You pay a one-time access fee of €249. The plan, from €289 per month, is not paid until you launch the issuance. The law firm, ERIR and ESI fees are separate and you see them in each offer before signing. Prices exclude VAT.
Do you have a date to finance? Tell us about your case.
Create the account, activate access and you'll receive offers from law firms.
