LONDON — Former Aramid CEO Simon Fawcett has launched Atlantic Screen Composers to produce and finance music scores for film and TV.
ASC has raised an initial £2 million ($3.2 million) through an Enterprise Investment Scheme in the U.K. It will offer advances to film and TV producers in return for producing and exploiting the rights to their soundtracks.
“Producers need all the financial support they can get in today’s tough financial environment, as well as the expertise to maximize the value of their music assets, and ASC can provide both,” Fawcett said.
He expects to invest anywhere between $40,000 and $300,000 per project, according to its scale and commercial potential.
ASC is an arm of Atlantic Screen Music, launched by Fawcett with music publisher Tim Hollier, who previously founded the film music specialist Filmtrax.