The Libertines could be ready to return to the live scene following their successful reunion last year, as reports of a new deal with investment firm Power Amp emerge today.
The Independent newspaper claims Carl Barat has signed a £500,000 ‘multi-revenue stream’ agreement with Power Amp, which helped partly to fund his recent solo album and, according to Power Amp’s chief executive Tom Bywater, the new income opportunities will include a ‘meaningful amount from Libertines gigs’.
The deal will see Barat sharing income from various sources such as touring and merchandise with the investment company, and negates the need for record company involvement, as Madness discovered to their benefit when they received a return of nearly 30% from a similar scheme.
The Libertines raised hopes of a more long-term return when they announced a spot at the 2010 Reading/Leeds festivals, which also included a handful of low-key warm up shows. Predictions of doom proved unfounded, as the band treated fans to a memorable series of shows, which went a long way to carving out a viable future for the band.
Later, Carl Barat talked of a ‘new chapter’ for the band, however it remains unclear as to whether the reunion will result in the first new album from the group since 2004’s eponymous release.