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Dragon Peter Jones backs indie band

The music business has seen a serious shake-up over the last decade. Fans are moving away from traditional retail channels: i.e. CDs, towards digital downloads. And as illegal file sharing shows no signs of slowing, it’s becomes increasingly difficult to make a living in the industry.

Today’s Times reports that on BBC Two tonight, Peter Jones will throw caution to the wind and pledge ?75,000 to take on this unstable market.

His investment in Hamfatter, a Cambridge-based indie band, is a total break from the norm for Dragons’ Den. But the £300m-businessman is swayed by a one-minute snippet of their favourite single and agrees on a 30 per cent stake in return for his investment.

Described by The Independent as a cross between Belle & Sebastian and Divine Comedy, tune in tonight to see Peter Jones captivated by Hamfatter’s melodious pitch.

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