Former Libertines Frontman Agrees Wide-Ranging Investment Deal for New Solo Album
London, July 14th 2010 - Power Amp Music, the music investment specialists, have signed an innovative and wide-ranging £500,000 deal with former Libertines frontman Carl Barat that will support the recording and release of his new solo album, which is scheduled for release later this year.
The multi-revenue stream deal, which will see Power Amp Music and Carl Barat sharing in a variety of income opportunities during the agreement from recording, publishing, touring, merchandise and sponsorship among others, will see all rights reverting to Barat at the end of the term.
Carl Barat is best known as one of the co-founders and frontmen of acclaimed UK band The Libertines, who have recently temporarily reformed to make a number of festival appearances throughout this summer including a headline slot at the UK’s Reading & Leeds Festival. Their two albums ‘Up the Bracket’ and ‘The Libertines’, which were released in 2002 and 2004 respectively, are widely thought of as classics and established The Libertines as one of the most important bands of their generation.
Following the demise of The Libertines in 2005 Carl Barat launched a new band Dirty Pretty Things and released the widely acclaimed, Top 3 album Waterloo to Anywhere in 2006. Another album Tired of England followed in 2008 shortly before the bands demise later that year.
Carl Barat is currently writing and recording his new as-yet-untitled album which will be released this autumn on his own label imprint in the UK and licensed to P.I.A.S for the rest of the world ex: US. Discussions are currently in play with a number of US labels about a North American licensing deal for the forthcoming album.
Power Amp Music was launched in 2008 and specializes in delivering bespoke funding solutions to high profile, established artists. Power Amp takes a holistic approach to artist funding, tailoring equitable deals that participate in agreed areas of an artist’s career.
Carl Barat is the company’s third major signing after the iconic British pop band, Madness, who released their gold selling album ‘The Liberty of Norton Folgate’ via a deal with Power Amp to critical acclaim and commercial success in 2009 and Welsh singer-songwriter Charlotte Church who is currently recording her new solo album for release later in the year.
Tom Bywater, the founder and CEO of Power Amp Music said, “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. Power Amp Music now has a well diversified portfolio of artists and has given each of them more creative freedom than they ever had under their previous deals. The music industry is evolving fast and the kind of funding deals available to artists need to evolve too. Our straightforward, transparent and equitable deals put the power back into the artist’s hands, which I truly believe is the way it should be.”
David Bianchi of Various Artists Management, who manage Carl Barat said, “Of all the new models that are emerging Power Amp Music just made sense to Carl & I. Getting the level of investment needed whilst still being incentivised by earning from all income streams from day 1 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. Having Integral/PIAS on board as the marketing engine and worldwide licensees (outside America) makes for the perfect trio of funding, rights ownership and excellent marketing.”