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Business News Management & Funding
Summers no longer part of PowerAmp venture
By CMU Editorial | Published on Monday 19 January 2009
Artist managers Jazz Summers and Tim Parry of Big Life Management have announced they are no longer involved in music investment outfit PowerAmp Music.
The two music business veterans brought some industry know-how to the PowerAmp venture when it launched just under a year ago, but have said they are no longer involved because it seems the money firm are more interested in doing deals with heritage rather than new artists, as was originally indicated.
PowerAmp, which invest in artist projects for a cut of revenues rather than ownership of master recordings, recently announced their first artist deal was with Madness.
Summers said in a statement this weekend: “I want to make it clear that I no longer have any involvement with PowerAmp Music. The whole point of Big Life’s involvement was to source, develop and bring through new artists with PowerAmp’s financial backing”.
