Atlantic Screen Composers Introduce New Investment Fund (Cannes)
Simon Fawcett and Tim Hollier plan to invest between $30,000 and $350,000 in up to 60 features a year.
CANNES -- Atlantic Screen Composers (ASC) lands in Cannes this year aiming to provide music to cash-strapped producers ears with a large investment fund to dip into in exchange for music publishing rights to productions tapping into the cash.
Set up in 2011 to produce and bankroll music scores, ASC is a fund associated and managed by the two founders of Atlantic Screen Music, former Pathe Entertainment financial director Simon Fawcett and Tim Hollier.
Hollier built indie film music publishing giant Filmtrax, and with Fawcett the duo are both familiar faces on the Croisette.
The fund has already pumped cash into five films and two animation series to date.
It aims to provide cash for between 40 and 60 feature films during the forthcoming year, stumping up between $30,000 and $350,000 in individual productions in return for music publishing rights.
ASM, in its first year, already reps movie production labels including Ealing Studios, The Recorded Picture Company, Foresight Films, Kintop Films, Intandem, Voltage Pictures and Gurinda Chadha’s production banner.
ASM deals with rights clearances and supervision and directly collects most of their worldwide music publishing royalties.
"It is so important in a tough economic climate that film receives this support and we are a unique company with a hugely experienced team," Hollier said. "What we want from Cannes is to find new and exciting projects. Music is such an important part of that, it is a passion for us."
ASM CEO Fawcett was most recently chief investment officer with Aramid Capital.
"The skillset of the company is based on a global network of publishing affiliations, direct collection, accounting and our ability to act as a clearance agency and as music supervisors without dictating who the composers should be. It is a perfect fit with film producers attending Cannes," Fawcett added. "We like to feel we are part of the team and work with producer and director to get the desired results”
Strike up the band.