Feeds

Indie labels launch post-riot emergency fund

Dig deep

Gartner critical capabilities for enterprise endpoint backup

Indie trade association AIM and distributor PIAS have created an emergency fund to help small record labels devastated by the loss of stock. An act of arson during the London riots on Sunday night destroyed the stock of over 150 small labels.

It is much-needed. Most of the businesses affected are tiny and face three problems: a lack of continuity insurance, the reluctance of insurers to pay out for stock lost to riot damage, and the ongoing reluctance of banks to extend credit.

In a joint statement today, PIAS and AIM said:

"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 also says it is attempting to secure preferential rates with suppliers, negotiating for a temporary fees, and promoting digital offerings. Punters are urged to shop to support the labels.

Apple has already launched an indie section to help the affected labels. You can find it by clicking here.

The distributor's CEO and co-founder Kenny Gates said, "The compassion of our recording artists, our labels and the industry-wide support is amazing."

It remains to be seen if freetards who rail against "big music" will come to the aid of small, independent music companies when they most need help. Doing so might risk acknowledging that digital pillaging has real world consequences, just as physical plundering has adversely affected many small businesses in English cities this week. There's no shortage of academics and activists who insist online looting is consequence-free, shouldn't be policed or punished, and in any case, the music business has had it coming. Sound familiar?

Well, it would be nice if your reporter was proved wrong, and music fans came to the labels aid.

Anyone wishing to contribute should email labelsupportfund@musicindie.com. You can find AIM here and PIAS here. ®

Boost IT visibility and business value

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Fast And Furious 6 cammer thrown in slammer for nearly three years
Man jailed for dodgy cinema recording of Hollywood movie
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Scale data protection with your virtual environment
To scale at the rate of virtualization growth, data protection solutions need to adopt new capabilities and simplify current features.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?