London-based independent label Young Poet Records has announced the completion of the first phase of a new fundraising round.
The label’s roster includes Emma McGrath, Carmody, WOOZE and Conor Albert.
Young Poet Records, which formed in 2018, said today (November 10) that it has attracted “significant funding from a diverse range of investors since lockdown began” under the UK government-supported SEIS and EIS Schemes.
The company says it is looking to complete phase two of its fundraising strategy by the beginning of 2021.
Young Poet, which has its own recording studio at The Dairy in Brixton, says that part of its aim within the funding it to attract more established artists to the label.
The new investment coincides with the formation of a new advisory group for the label.
Guy Garvey (lead singer of Elbow and BBC 6 Music Presenter), successful songwriter (and recent Ivor Novello Award recipient) Jamie Hartman and Managing Director of advertising agency M&C Saatchi, Tom Firth, have been confirmed as members of the new advisory group.
The founders of Young Poet, Hugh Worskett and Will Frank, collectively have three decades of experience in record production, songwriting, artist development, A&R and management between them.
Worskett has 250,000,000+ streams and a No.1 and Top 5 album to his name as a writer/producer having developed, produced and/or written for artists including Michael Kiwanuka, dodie, Birdy, Jamie N Commons and Crystal Fighters.
Frank started his career at Simon Fuller’s 19 Entertainment where he became Head of A&R in the UK as well as managing award-winning songwriter Cathy Dennis for the company. He then moved to Universal Music Publishing UK as an A&R Consultant.
Frank’s work has contributed to over 1 billion + streams, 30,000,000 + physical album sales and 5 No.1 singles across the UK and U.S. via artists such as Katy Perry, Britney Spears, Mark Ronson, David Guetta, Gorillaz, Massive Attack, Mark Foster (Foster The People) and P!nk among others.
Hugh Worskett said: “Will and I have been building the foundations of Young Poet Records organically since 2018 and have a very clear vision of the kind of artist-centric label we want to develop, supporting artists with singular voices and identities who have the potential to stand out in a crowded market. To have secured significant investment during these difficult times and to have investors who share our vision and enthusiasm for the label and our artists is hugely affirming. I’m confident that 2021 will be a great year for not only us but for independent music in general.”
Will Frank said, “This investment will allow Young Poet to continue to provide a pathway to long-term careers for our artists alongside a global approach to finding and engaging with new audiences.
“Our newly formed advisory group of Guy, Jamie and Tom will offer a prism through which we intend to seek out and harness a broad spectrum of opportunities, taking a progressive approach to the development of the label and the artists signed to it.”Music Business Worldwide