British newspaper The Telegraph is reporting that Jazz Summers, the manager to bands such as The Verve and Snow Patrol, is fronting a fund which aims to raise £10m to invest in new and established UK music talent. He is joining forces with venture capital and advisory firm Power Amp Music to launch the tax-efficient investment vehicle.
The Power Amp Music Fund will invest in up to 30 artists, with independent labels or concert promoters, in exchange for a share of revenues from recording and publishing, merchandising and live events.
With CD sales in decline but demand for concert tickets and music festivals at an all-time high, record labels and music business investors are seeking a cut of everything from TV appearances and ticket sales to T-shirts.
According to their website, the Power Amp Music Fund is described as a tax efficient vehicle offering the opportunity to invest in a diversified portfolio of UK music talent. The Fund uses an artist-centric development model that brings the source and destination of music closer together and generates enhanced returns for artists and investors.
By investing directly in artists’ careers, investors participate in all revenues available: recording, publishing, live, merchandising, and alternative (digital, branding etc,). The model offers an effective route into an industry with strong future revenue potential.
Jazz Summers Invests £10m In Music Talent — Telegraph
Summers Fronts Music Investment Vehicle — Billboard.biz
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