LONDON (CelebrityAccess MediaWire) — Mama Group, the up and coming music and media investment fund has intimated that it expects to announce a profit of more than $3.9 million dollars.
The firm has benefited from the strong live entertainment sector in the UK, where they operate a number of significant venues, including Barfly, The Hammersmith Apollo and the London Forum as well as representing a selection of recently hot acts like the Kaiser Chiefs.
Mama has also made inroads in the north American market with the purchase of a 20% stake in management shop Nettwerk.
The expected figures won't represent a £7 million outlay for the Mean Fiddler venues.
"It is a mistaken view that the music industry is experiencing difficult trading conditions. That is only true for CD sales, where we have limited exposure. Strategically, our combination of strong live venues married to both a growing artist management roster and significant positions in ticketing, sponsorship and the digital environment is, we believe, the model for the music industry of the future." said Mama CEO Adam Driscoll. – CelebrityAccess Staff Writers