IMPALA looks to Europe to create new investment fund and properly value intangible assets
Press release – 24th January, Midem, Cannes
IMPALA hosted the European Bank’s first visit to Midem to explore new financial tools for the European independent music sector.
The bank met with IMPALA’s finance working group set up last Midem when IMPALA adopted its Finance Action Plan. IMPALA’s working group includes music and banking representatives, as well as EC officials. One of the aims of IMPALA is to create a new investment fund.
IMPALA also met with European Commissioner Michel Barnier on Saturday to discuss other measures such as revising accounting standards to value copyright intangible assets, improving online market access and the status of copyright SMEs in Europe generally.
Quotes:
Helen Smith, Executive Chair, IMPALA said: “Access to finance is vital and this is a clear step towards new financial instruments and proper valuation of copyright assets.”