
The
Wall Street Journal takes a look at Ingenious, a London investment bank that is using its cash reserves to fund albums by older artists—including Travis
*, the Prodigy, and Peter Gabriel—whose recent efforts have been passed over by record labels. The company's logic: Swooping into territory where the currently suffering music industry would be wary of going, namely albums that may not have a lot of upside but less of a risk of being an out-and-out flop, could result in modest profits. Ingenious puts up the money for albums by these artists, then outsources tasks like distribution and marketing; all of the records it finances do manage to get international distribution. Here's how the relationship between Ingenious and it most recent signing, UB40, came to be:
More »