Tim Bowen’s Opus Entertainment will back new projects in the face of dwindling CD sales.
Opus Entertainment has launched as an Enterprise Investment Scheme, offering target returns of 15-20 per cent per annum with a minimum investment of £20,000.
Instead of capitalising on more traditional, physical music sales, Opus Entertainment intends to create brands from artists and focus on monetising them through other avenues, such as publishing, licensing and live shows.
The company is the brainchild of Tim Bowen, who joined CBS records in 1976 and went on to head Sony Music Publishing in New York. He later returned to London to become managing director of Columbia Records and then chairman at BMG.
His most recent roles saw him take the reins as chief operating officer at SonyBMG Music Entertainment Worldwide.
Opus Entertainment describes itself as a “radical new approach to the creation of value within the music business”, which is trying desperately to cope with digital piracy and an outdated business mode.
The company already backs The Kixx, who recently announced they will be supporting X Factor winners JLS on tour, and R&B/rap singer Ironik.
Read more from sister title Real Deals.
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