Francis and the Lights turn themselves into a Company and receive Funding
Just wanted to share this with you. A couple of days ago The Normative Music Company announced that Francis and the Lights have turned themselves into a limited liability company and have received an investment of USD 100 000 at a USD 1000 000 valuation. This likens the deal between a venture capitalist and a start-up and represents a new way of handling the financial side of an artist’s career. The proposed advantages of the deal are artistic freedom and an avoidance of compromises.
“When we hear the term ‘independent music’, we should recall its actual, forgotten promise of unmolested artistic integrity. In 2008, such music cannot exist with submission to the whims of a brittle industry, nor with automatic rejection of anything ‘corporate’. Artistic freedom requires an awakening, from the artist, that business is good — because music requires it, because life requires music, and because life is good.
NME ran an article on this titled “Indie band turns itself into company instead of signing record deal”. It can be found here.
Tags: company, Francis and the Lights, The Normative Music Company
January 8th, 2009 at 9:01 am
[...] This band, Francis and the Lights, decided to incorporate instead of signing to a record label for funding. Now they’re tracking their spending [...]