aaamusic | On 11, Aug 2011

[PIAS] & AIM Establish Fund for Labels

[PIAS] and AIM have created a fund to help support labels that have been adversely affected by the Sony DADC fire.

Official Statement issued by [PIAS]

[PIAS] have been overwhelmed by the response and incredible support offered to both ourselves and the labels that we represent here in the UK.

Labels and artists affected by the destruction of the Sony DADC warehouse are faced with incredible pressures on their businesses in respect to the re-manufacture, re-supply and marketing required as a result of the fire. Whilst it is expected that insurance will cover the lost stock, the reality for many labels is that they will not be compensated or insured for an interruption of trade or the additional capital to reproduce the stock that they have lost and the promotion in which they have invested.

[PIAS] have been working around the clock to ensure that the wheels of supply continue to turn as soon as possible. [PIAS] and AIM (Association of Independent Music) have been in dialogue with MCPS, PPL and other companies and organisations to discuss ways in which these additional and un-insured costs can be mitigated.

Additional efforts from [PIAS] range from securing preferential rates with suppliers for affected labels; encouraging digital retail initiatives to drive and promote digital sales whilst physical stocks replenish; conducting negotiations to reduce fees that might be charged to labels in the normal course of business.

The last 48 hours has seen a genuine outpouring of support for the principle of independent labels, artists and repertoire. [PIAS] and our labels have received offers of support from both some of the largest names in the business to individuals, all of which simply want to do all they can to support the continued vibrancy and creativity associated with independent music.

In addition to the efforts to reduce actual costs through negotiation, and in response to the numerous offers of support, benefits, fundraising initiatives etc, [PIAS] have worked in conjunction with AIM to create a fund that companies and organisers of initiatives can contribute to. In this way, we have created a vehicle for enabling those involved to do so safe in the knowledge that such monies will be distributed fairly amongst the most needy labels with the sanction of both [PIAS] and AIM.

Kenny Gates, Co-Founder and CEO, [PIAS] “The fund that is being put together in a matter of hours by [PIAS] and AIM demonstrates once again the strength and solidarity in the independent music community. [PIAS] will carry on engaging, helping and supporting its labels and artists in every way possible. I am very confident that our combined efforts will result in the smallest interruption to our collective business. Again the compassion of our recording artists, our labels and the industry wide support is amazing.”

Whilst the specific details of distribution are yet to be determined and our current priority is to support the immediate needs of the labels and artists that we work with, we are also keen to establish a vehicle for the incredible generosity that has been shown towards our labels and associated artists.

Details regarding how to contribute and who to contact:

Anyone wishing to contact [PIAS] and AIM in respect to this fund should email

labelsupportfund@musicindie.com

About [PIAS]

[PIAS] is Europe’s leader in the provision of specialist services for the licensing, distribution, sales and marketing of music, film and comedy on an international basis. [PIAS] is dedicated to providing repertoire creators and owners with specialist, premium level services that enable them to develop and maximise the value associated with their artists, products and brands.
Originally founded in 1982 and headquartered in Brussels, Belgium, [PIAS] supplies a range of highly professional services for leading repertoire owners across both physical and digital routes to market. The group has significant operations in UK, France, Netherlands, Spain, Germany, and Ireland. In addition [PIAS] has interests in USA and Australia plus an extensive international network of partners that enables it to offer its services on a truly global basis.
[PIAS] also owns premium repertoire and rights through its [PIAS] Recordings stable of labels that includes the Wall of Sound, Different and Play It Again Sam imprints. Additional interests include[PIAS] Comedy and the Strictly Confidential publishing operations and joint venture film companyTwin Pics.

Official site: http://www.pias.com/uk/
Facebook page: http://facebook.com/piasmusic

11th August 2011, London/Brussels – [PIAS] and AIM have created a fund to help support labels that have been adversely affected by the Sony DADC fire.

Official statement issued by AIM

Following the devastating fire on Monday night at SONYDADC’s Enfield facility, which destroyed the stock of hundreds of independent labels AIM and [PIAS] have been working together to coordinate the extraordinary number of offers of help which have been pouring in from across the world. This morning, we are announcing the creation of a fund to help independents affected by the catastrophe. They will be able to draw upon the fund to help cover the interruption to their business and the cost of getting back onto their feet.

The fund is being provided by some of AIM’s larger member labels, other well wishers and from AIM’s reserves, and will be made available to affected smaller labels pro-rata to labels’ [PIAS] turnover this year, as required.

Funds will be made available as interest-free and security-free loans repayable within a year.

Total initial funds available are £250,000.

[PIAS] are first and foremost focused on supporting their labels. AIM will be coordinating the fund, and also other offers of help in the form of promotions and benefit gigs.

Alison Wenham commented “the independents will survive this disaster, as they have survived other business challenges. We represent a community which has a mutual respect for the work of all indie labels, be they large or small, and the industry needs to nurture and protect these small companies in times like this. We wish to thank everyone in the community for their generous and unfettered support”.

Martin Mills, Chairman of the Beggars Group, said “Larger labels are much better resourced to weather this storm – but small and new labels are the future and need support from their peers to see them through this crisis “.
Daniel Miller, Founder, Mute said “Following the sad events surrounding the fire at the Sony DADC warehouse which houses [PIAS]’s physical distribution, it is crucial that the independent community stands together to ensure the ongoing business of the labels so badly affected. Mute supports any initiatives that will enable this to happen.”