When music-financing firm BeatBread’s CEO Peter Sinclair passed away in August, the company promised to continue his work. First proof of that comes with the launch this week of a new $100m fund focused on independent labels and distributors.
The Global Independence Fund has been developed in partnership with indie bodies WIN, Impala, AIM and AIM Ireland, following on from BeatBread’s existing advances alliance with US body A2IM. The goal is to tackle one of the key challenges facing indies in the current market: access to finance to sign and develop more artists and invest in technology and expansion of the services they offer.
“For too long, independent labels have had to play by rules set by incumbents, where access to capital comes at the cost of control,” said BeatBread’s head of artist and industry development Matthew Tilley. “And the opportunity to sign and support artists is also limited by access to capital, even when those distributors or independent labels may otherwise be in the very best position to develop, market and support a given artist.”
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‘ Some details of this article were extracted from the following source musically.com ’
