UK music investment firm Power Amp Music has announced that its funding deal with Madness has recouped after two years. Power Amp funded the recording of the band’s album The Liberty of Norton Folgate, which has since sold 100,000 copies, while Madness’ live revenues have grown by 30% over the two years. That’s helped Power Amp deliver a 46.9% return on its net investment, thanks to sharing in the band’s recording, publishing, live, sponsorship and merchandising revenues. Madness co-manager Garry Blackburn is chuffed: “We have fully recouped the deal in less than two years and all of the band’s rights have now fully reverted back to them, which is something that wouldn’t have happened with any other investment company.”
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Tools: Kaiber
In the year or so since its launch, AI startup Kaiber has been making waves,…