Music publishing firm Windswept is closing its London office at the end of Jun. Word is the company's current UK management, Peter McCamley and Paul Flynn, are going to set up their own company, P&P Songs Ltd, and they will represent Windswept's interests over here.
The decision will mean Windswept will be a lot less proactive in signing up the talents of UK songwriters. That, the company thinks, is because UK songwriters are getting overly favourable deals these days. Windswept boss Evan Medow told reporters: "What with the high advances, low fees and short retentions, we would prefer to invest in opportunities that will provide us with a higher return, longer involvement and the ability to build assets. However, Peter and Paul have done a fantastic job for us and we feel that the best way to go forward is to provide them with the opportunity to build a business initially based on our catalogues. In addition to giving them the license, Windswept anticipates that it will provide Peter and Paul with some financing and support in the administrative and royalty areas to assure the success of their business."