THURSDAY 9 AUGUST 2018 COMPLETEMUSICUPDATE.COM
TODAY'S TOP STORY: The Australian finance outfit which raised money for failed streaming music platform Guvera has been ordered to refund one investor his entire $6.6 million investment. This is after a judge concluded that Amma Private Equity manipulated a man with Alzheimer's so that he spent millions on Guvera shares which were "at all times worthless"... [READ MORE]
TOP STORIES Finance outfit ordered to refund millions to exploited Guvera investor
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DEALS Reservoir signs new Stone Temple Pilots frontman
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LIVE BUSINESS Superstruct invests in Norway's Øyafestivalen
Harvey Goldsmith urges Irish politicians to pass tout ban, even if some Viagogo employees lose their jobs
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DIGITAL & D2F SERVICES Triller announces 7digital deal
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ARTIST NEWS Mac DeMarco launches own label
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ONE LINERS Top Dawg Entertainment, RCA, Aphex Twin, more
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AND FINALLY... Kanye West not ready for Carpool Karaoke
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COOKING VINYL - OFFICE SPACE TO RENT (WEST LONDON)
Cooking Vinyl is pleased to offer a newly refurbished office space in Acton, West London. Ideal to share with other likeminded creatives in a hot desk environment, or alternatively to rent the space as a whole, comfortably fitting 30+ desks.

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MPA GROUP - TRAINEE FINANCIAL ACCOUNTANT (LONDON)
The MPA Group of Companies (MPA, MCPS and PMLL) is seeking a trainee financial accountant to assist the Director of Operations with all of the finance functions across the three companies as well as providing assistance with other finance related projects.

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SOLD OUT - SOCIAL MEDIA JUNIOR EXECUTIVE (LONDON)
Sold Out is an independent full service advertising agency, specialising in arts and entertainment. The successful candidate will need to be a natural communicator, be able to work at a fast pace and with a gift for organisation and effective time management.

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ERASED TAPES MUSIC PUBLISHING - PART TIME LICENSING ASSISTANT (LONDON)
Erased Tapes Music is an independent music company that was founded in 2011 as the publishing arm of Erased Tapes Records. We are currently seeking a meticulous and highly organised individual to join our team as a part-time Licensing Assistant.

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SENTRIC MUSIC - ROYALTIES MANAGER (LIVERPOOL OR LONDON)
Sentric Music are looking for a Royalty Manager to join our Finance Team. Based in the creative areas of the Baltic Triangle in Liverpool - or Soho, London - the Royalty Manager will be integral to managing the accounts for our international client base.

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AEG EVENTIM APOLLO - ASSISTANT TECHNICAL MANAGER (LONDON)
Eventim Apollo are recruiting an Assistant Technical Manager to support and in the absence of the Technical Manager oversee the Technical aspects of a production from start to finish.

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ISLINGTON ASSEMBLY HALL - ASSISTANT VENUE MANAGER (LONDON)
Islington Assembly Hall is looking for an Assistant Venue Manager to oversee all ticketing and box office activity, as well as managing social media posts and supporting overall marketing strategy.

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RAYMOND GUBBAY LIMITED - EVENTS ADMINISTRATOR (LONDON)
Raymond Gubbay Ltd, London's leading promoter of popular classical music, dance and trail events, is seeking to appoint a full time enthusiastic Event Administrator to join its busy event department.

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DOMINO - D2C CO-ORDINATOR (LONDON)
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STATE51 MUSIC GROUP - MANAGEMENT ACCOUNTANT (LONDON)
The state51 Music Group is an integrated group of established businesses combining technology and creativity with deep music knowledge and experience. We are looking for a Management Accountant to join a small and dynamic finance team.

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CONSOLIDATED INDEPENDENT - TECHNICAL ACCOUNT MANAGEMENT (LONDON)
CI is the market leader in managed services for the digital music industry, connecting the best independent music with the opportunities of the global market. We’re looking for someone to join our London support team, working across client support, technical account management, and operations.

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KOBALT MUSIC GROUP - INTEGRATIONS MANAGER (LONDON)
As part of Kobalt’s significant expansion of AWAL - our recorded music division - the Integrations Manager will support the growing operations team by ensuring accurate and timely review and cleanse of all incoming catalogue/label distribution deal releases for digital and physical distribution.

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Finance outfit ordered to refund millions to exploited Guvera investor
The Australian finance outfit which raised money for failed streaming music platform Guvera has been ordered to refund one investor his entire $6.6 million investment. This is after a judge concluded that Amma Private Equity manipulated a man with Alzheimer's so that he spent millions on Guvera shares which were "at all times worthless".

Amma was sued by 80 year old Keith Messer last year, following the final collapse of the Guvera company, that had been in freefall since a disastrous attempt at an IPO a year earlier.

The lawsuit stated that Messer had started investing in Guvera after meeting with Amma reps in 2012. He was diagnosed with Alzheimer's disease the same year and the illness then "progressed significantly", to the extent - lawyers argued - that Amma officials should have noticed that their investor was now struggling to comprehend the complexities of the investments he was making.

Messer's daughter also claimed to have met with Amma in 2014 to advise the investment firm of her father's condition. She also told them that he "did not understand the investments, he had no paperwork ... and that he did not wish to further invest in Guvera". But, it was then claimed, Amma secured a number of further investments from Messer in the following eight months.

Defending itself last year, Amma insisted that Messer "confirmed that he understood the nature of the music streaming application and the business model of Guvera" and that he "asked detailed questions about the investments which indicated that he understood the nature and risks associated with purchasing the shares and [that he] had researched [Guvera's] business model".

However, according to Financial Review, in a recent judgement in the Australian federal court, judge Jennifer Davies ruled that Amma acted "unconscionably" when it persuaded Messer to invest millions into the Guvera business. This was a "speculative venture", the judge added, and the shares he bought were "at all times worthless".

Davies said that it should have been obvious to Amma's representatives that Messer had a significant cognitive impairment. All the more so after his daughter's intervention. Instead of acknowledging Messer's condition and his daughter's concerns, Amma's rep "consciously and deliberately" put pressure on him to invest more money, acting in a way that was both "exploitative and manipulative".

The judge also criticised Amma for being deliberately vague about the status of the Guvera business as Messer was investing further monies. The judge said Amma's rep said the business was doing very well, when in fact an independent auditor had said there was significant uncertainty about the company's future. Given Amma's close affiliation with Guvera - it is headed up by a co-founder of the streaming firm - the judge added, Financial Review reports, "that it was reasonable to infer Amma was aware of Guvera's poor financial position".

Although there were specific circumstances in Messer's case that led to the litigation, there has been more general criticism of the way Amma raised money for the Guvera venture, especially off unsophisticated investors introduced to the investment outfit by their accountants. Indeed, after Guvera's collapse, the Australian Securities And Investments Commission sent a letter to the country's Institute Of Public Accountants expressing concerns about the kind of fundraising methods allegedly used by Amma to raise monies for the streaming music company.

Amma is yet to respond to the judgement in the Messer case.

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Reservoir signs new Stone Temple Pilots frontman
US-based music rights firm Reservoir has announced a deal with Jeff Gutt, the former 'X-Factor USA' finalist who was selected as the new frontman of Stone Temple Pilots last year. Reservoir is signing Gutt to a worldwide publishing deal covering the musician's entire songwriting catalogue, including his songwriting credits on Stone Temple Pilots' new and future releases.

Confirming the deal, Reservoir's SVP Of Creative And A&R Spek said: "I've been a longtime Stone Temple Pilots fan since their debut in the 90s, and it's as a fan that I got to know Jeff's story, his writing and his voice. We at Reservoir look forward to working closely with Jeff, his team, and STP as he travels the world and wins fans one song at a time".

Gutt himself added: "I'm looking forward to working with the Reservoir team towards a long and mutually rewarding relationship. I thank them for their partnership and support!"

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Superstruct invests in Norway's Øyafestivalen
The increasingly acquisitive Superstruct Entertainment has announced another alliance with a European music festival, this time Øyafestivalen in Norway.

Superstruct was set up last year by US investment firm Providence Equity Partners. It's headed up by Cream founder and former Live Nation dance music chief James Barton and former Ingenious music investments man Paul Bedford. Other European live music ventures it has already partnered with include Sziget, Elrow and Sonar.

Claes Olsen, Booking Manager at Øyafestivalen, said earlier this week that by allying with Superstruct, his organisation will be able to "promote Norwegian music through channels we would otherwise not have had access to while also boosting Oslo as a festival city".

Adding that Øyafestivalen would remain an autonomous entity, Olsen went on: "This partnership is about the festival becoming part of a larger group with common interests. However, our festival will continue to be run by the same management, it will maintain the profile that our audience knows and loves, and Øyafestivalen AS will remain a Norwegian company based in Oslo".

Speaking for Superstruct, Barton said: "We are delighted to be partnering with Øyafestivalen, one of Europe's leading urban festivals, and the leading festival in Norway. We look forward to welcoming their senior leaders to our management team and continuing to promote outstanding live music events".

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Harvey Goldsmith urges Irish politicians to pass tout ban, even if some Viagogo employees lose their jobs
Veteran concert promoter Harvey Goldsmith has urged Irish politicians to "be brave" and back proposed new laws that will outlaw ticket touting at many venues.

The Irish government recently said it would back proposals by two backbench MPs seeking to restrict the resale of tickets for profit in the country. The department of the Minister For Business, Enterprise And Innovation said it was backing new rules that would "ban the above-face value resale of tickets for sporting and entertainment events in designated venues with a capacity of 1000 or over. It would also prohibit the use of bot software to purchase tickets in excess of the number permitted by event organisers".

However, last week, one Irish Senator said she'd opposed the plans because always controversial ticket resale website Viagogo employs about 150 people in Limerick, the city she represents. Senator Maria Byrne told reporters that she "was alarmed to learn that ticket resale sites like the Ticketmaster company Seatwave closed down in Belgium when it introduced similar legislation" to that being backed by the Irish government.

Goldsmith - a vocal opponent to online ticket touting even when much of the live industry was going through its 'if you can't beat them join them' phase - says Irish politicians should back the new laws even if it does mean some Viagogo employees in the country losing their jobs.

Speaking to TheTicketingBusiness.com, Goldsmith said earlier this week: "How I applauded forward thinking Ireland when it looked like they were going to pass a bill outlawing the resale of tickets. Now some busybody under the thumb of lobbyists is trying to stop the bill on the basis that some people will be out of a job".

Adding some drama, he concluded: "That's the same as saying we can't attack terrorists or crooks because some people will be out of work! Be brave Ireland and pass the bill".

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Triller announces 7digital deal
User-generated music video platform Triller has signed a deal with 7digital to gain access to the B2B digital music set-up's catalogue.

Triller aims to build on that whole lip-syncing thing people seem to like. Users film various takes of themselves performing to a song, and then the app cuts them all together to make a "celeb-quality" music video. The 7digital deal vastly expands the tracks to which users have access.

"We are delighted to partner with Triller", says 7digital CEO Simon Cole. "This collaboration ensures that Triller can offer even more compelling experiences to consumers, while the music industry will also benefit from broadening access to digital music through the continued growth of this exciting platform and its impressive user engagement".

Triller CEO Mike Lu adds: "This relationship between Triller and 7digital gives video content creators and Triller influencers even greater opportunity to share their talents and make their mark on the social media world using the latest chart-topping hits. 7digital's prominent presence in countries outside of the US will help to further increase Triller's global footprint".

The 7digital deal follows a recent licensing agreement between Universal Music and Triller. The company also recently announced that it had raised $5 million in new funding.

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Approved: Caterina Barbieri
Minimalist electronic composer Caterina Barbieri is set to release two new albums this week. One a split LP with kindred spirit Eleh, the other an entirely solo effort titled 'Born Again In The Voltage'.

On the split album, each artist fills one side of a twelve-inch with slowly unfurling sounds. You can listen to excerpts from each composition here.

'Born Again In The Voltage', meanwhile, is a collection of compositions recorded by Barbieri between 2014 and 2015. The sounds on the record are drawn from 1970s synth the Buchla 200 as well as cello and voice.

Your next chance to catch Barbieri live in the UK will be at the Wysing Polyphonic Festival in Cambridge on 1 Sep. Meanwhile, listen to 'How To Decode An Illusion' from 'Born Again In The Voltage' here.

Stay up to date with all of the artists featured in the CMU Approved column by subscribing to our Spotify playlist.

Mac DeMarco launches own label
Mac DeMarco has announced that he's launching his own record label. It's called Mac's Record Label. Original, huh? And he didn't even come up with it himself. "My friend Jen who plays drums in The Courtneys gave me the name", he explains.

To date, DeMarco has released music through indie label Captured Tracks. He'll be aided in moving over to his own record company by Universal's label services business Caroline.

He's also announced new UK and Ireland tour dates for October, which will take place as follows:

28 Oct: TBA, Dublin
29 Oct: Belfast, Limelight 1
30 Oct: Manchester, Victoria Warehouse
31 Oct: Southampton, Guildhall

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Top Dawg Entertainment, RCA, Aphex Twin, more

Other notable announcements and developments today...

• Top Dawg Entertainment has signed a new deal with rapper Reason. The label has kicked things off by releasing new track 'The Soul'.

• Sarah Hall and James Bass have been promoted at Sony Music UK's RCA label. Hall is now Head Of Publicity, while Bass becomes Head Of Playlisting. "James and Sarah are two of the most talented and respected executives in the business; they are mainstays of the label and have delivered time and again for RCA", says the label's president David Dollimore.

• Aphex Twin will release new EP 'The Collapse' on 14 Sep. From it, this is 'T69 Collapse'.

• Tyler, The Creator has released a video for last year's 'See You Again', featuring Kali Uchis.

• Twenty One Pilots have released a new track from their upcoming album, 'Trench'. This is 'Levitate'.

• Stefflon Don has released new track 'Pretty Girl', featuring Tiggs Da Author. It'll feature on her new mixtape, 'Secure', which is due out on 17 Aug.

• John Grant has released the video for latest single 'Love Is Magic'.

• Ray BLK has released new single 'Run Run', her first for Island Records. "I wrote the song as a reminder to everyone listening, not to become a product of their environment", she says. "They have the choice to better themselves and rise above their struggles".

• Superorganism have released the video for 'The Prawn Song'.

• Broods are back with new single 'Peach'.

• FEMM have released new EP 'Dollhouse'. The release features a mix of finished and work-in-progress tracks. Here's one of the complete ones, 'Plastic'.

• Check out our weekly Spotify playlist of new music featured in the CMU Daily - updated every Friday.

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Kanye West not ready for Carpool Karaoke
You might be wondering why Kanye West has never appeared on James Corden's 'Carpool Karaoke' thing. I mean, it's possible. You wonder about all kinds of nonsense. Even if you haven't, West's mother-in-law Kris Jenner has pondered on that very thing many times. And she took Corden to task on it in an interview this week.

"I can answer this easily", said Corden. "We've tried. He's cancelled, twice. Maybe even three times. He cancelled once as I was turning the corner to his house. I was outside his house and they were like, 'He's not in the zone for it right now. We'll do it another time'".

It's alright though, West said he was sorry. Corden went on: "He did send me a lovely gift. He sent me these incredible flowers in a cube. A cube of flowers, which I'd never seen before, and he sent me a pair of Yeezys. People were like, 'Woah, they're so expensive', and I was like, 'Yeah! They cost my show $45,000!'"

Maybe Kanye's right to be wary of guesting with Corden in a car though. Filming an appearance on the 'Late Late Show' feature this week, Ariana Grande bashed up her arm real good. She showed off her bandaged wrist in an Instagram story post, declaring herself "an idiot", before adding on Twitter later that she should be "OK one day".

Nonetheless, she said recording the telly bit was "the best day", so the injury can't have been that bad. The actual cause is being kept under wraps until her appearance airs next week. Sweepstake? I'll take "scratched it trying to escape some light 'banter' from Corden".

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ANDY MALT | Editor
Andy heads up the team, overseeing the CMU bulletins and website, coordinating features and interviews, reporting on artist and business stories, and contributing to the CMU Approved column.
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