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Business News Deals Management & Funding
Libertine does deal with Power Amp
By CMU Editorial | Published on Monday 9 August 2010
That Carl Barat fella (described as “former Libertines frontman” in the press release, don’t know if they know something we don’t about the upcoming reunion) has done a deal with music investment types Power Amp Music, who take hard cash off city types and invest it directly into artist projects. Past investees (if there were such a word) include Madness and Charlotte Church.
The half a million deal will fund various Barat solo projects, and will see the investment vehicle share in various revenue streams generated. Says Power Amp top man Tom Bywater: “I am delighted to have agreed this new deal with Carl Barat who is one of the leading talents of his generation. I have great faith in Carl and his excellent management team at Various Artists – strong artist management is critical to Power Amp’s ‘artist-centric’ model, where the managers effectively become CEO’s of their artists own company”.
David Bianchi of the there mentioned Various Artists Management added: “Of all the new models that are emerging Power Amp Music just made sense to Carl and I. Getting the level of investment needed whilst still being incentivised by earning from all income streams from day one is a no brainer really. The model allows Carl to hold onto all his rights both in terms of copyright and publishing which was very important to him and means we can do short term licence and admin deals in both areas where we see fit”.
