Music acts and artists are looking to brands for funding rather than banks, a panel of artist managers have said.
The panel were discussing the financial realities of running a music business in 2013 as part of last week’s MusicTank Easy Money? convention.
Gary McClarnan from Sparklestreet, AlunaGeorge manager Stars Redmond and Davin McDermott from CreaTech all agreed that the industry has gone through a period of change in its relationship with corporate companies and brands.
Gavin said: ‘It’s now okay for bands to soundtrack adverts without losing their credibility.
‘We’re having to live without the input of the banks. It’s the same scenario whether you’re looking for money to launch a widget or a record. The banks are saying no. They’re just not lending as much as before so we’re having to go elsewhere for funds.’
Stars added that while this is the case, brand and band partnerships often need to be well thought out and planned.
Stars added: ‘As an artist manager, it’s your job to know your band inside out and be able to match the group to the correct brand. This cash flow is important to keep things moving.’
The panellists were speaking as part of Music Tank’s Easy Money? convention.
Read top tips from Easy Money? author Remi Harris on where to source funding.
The panel were discussing the financial realities of running a music business in 2013 as part of last week’s MusicTank Easy Money? convention.
Gary McClarnan from Sparklestreet, AlunaGeorge manager Stars Redmond and Davin McDermott from CreaTech all agreed that the industry has gone through a period of change in its relationship with corporate companies and brands.
Gavin said: ‘It’s now okay for bands to soundtrack adverts without losing their credibility.
‘We’re having to live without the input of the banks. It’s the same scenario whether you’re looking for money to launch a widget or a record. The banks are saying no. They’re just not lending as much as before so we’re having to go elsewhere for funds.’
Stars added that while this is the case, brand and band partnerships often need to be well thought out and planned.
Stars added: ‘As an artist manager, it’s your job to know your band inside out and be able to match the group to the correct brand. This cash flow is important to keep things moving.’
The panellists were speaking as part of Music Tank’s Easy Money? convention.
Read top tips from Easy Money? author Remi Harris on where to source funding.
