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MIDEM News: Impala announces new financial plan for indies

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This and more in the MIDEM daily News, only in Cannes and online soon!

European music companies are launching a financial blueprint for music.

The plan includes football-style compensation and revenue-sharing mechanisms, new accounting standards to value copyright properly, and a range of national and EC investment measures for companies, Impala announced at MIDEM yesterday.

Impala’s Helen Smith (photo) said: “This is a call for action, not only to European and national decision makers but also to the music sector itself. Football and other sports compensate small clubs for two reasons. First, to help them compete because of the huge gap with the big clubs. Second, to reward them for their investment in discovering and developing talent. It’s a perfect model for music.”

IMPALA also looked at other sectors, including film production where effective investment schemes exist at national and EC levels, and is calling on governments to open up these schemes to include music.

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4 comment on this article

  1. On January 27, 2010 at 10:32 am Howard Keith DeBono said:

    Hey i was part of an EU lobbying commission 2 years ago to try and bring to similar idea forward similar to what has been happening in the Film industry. In fact we had 2 things to question the difference in VAT between books, considered as educational and music Cds. The other one was tour support for our artists or indie labels support from EU in the same way smaller companies can’t compete and yet , i believe , our passion, quality of artists and 24/7 commitment should have some sort of EU support. I’ve spoken to our Government and firstly these opportunities have to open up from an EU parliament point of view. As we all know Music is not high in their daily agendas.
    If this is what this article is implying i’m all for it and count me .
    I’d appreciate if i can get in touch with someone who’s been pro active or willing to be in this area, of course including Helen Smith

  2. On January 27, 2010 at 1:40 pm Richard Wright said:

    This is a joke right? Are Impala expecting the EU to set-up a new governing body for the music industry? To try and compare the situation between majors and indies with large and small football clubs is plain stupid. The football clubs are all signed-up to a governing body and must abide by a set of rules in order to compete in the football leagues. The music world is not comparable at all – there’s no overall governing body, and so no onus on any major label to help out indies with extra revenue share.
    And why would they? Each have their own positives – indies in terms of a&r have an advantage in terms of ‘street credibility’ that majors will never possess, majors have financial clout that indies will never possess, I could go on and on.
    This is really a stupid idea from Impala. Clutching at straws anyone?

  3. On February 3, 2010 at 12:29 pm Penny Stocks said:

    Yes I am also agreed for this uniqueness. Its really a good one. Thanks for this informative post……..

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