Dave Stewart: Britain’s Cool Factor – Rediscover It!

Dave Stewart’s story isn’t just a charming anecdote about a bank manager taking a chance; it’s a stark reminder of how drastically the financial landscape has shifted for creatives. In 1982, a forward-thinking local manager at Barclays recognized potential where record labels saw only eccentricity. Today, that kind of intuitive investment is vanishing, replaced by risk-averse algorithms and a demand for “fixed assets” – a concept utterly foreign to the world of artistic endeavor.

Stewart’s frustration with the industry is palpable. He points to the lopsided royalty splits of his own past – 85% to the label, a mere 15% shared between himself and Annie Lennox – as evidence of a system rigged against artists. Rare Entity’s model, retaining 75% ownership for the creative, is a direct response to this imbalance. This isn’t simply altruism; it’s a savvy business strategy. By empowering creators, Rare Entity positions itself as a partner, not an exploiter, attracting talent and fostering long-term loyalty.

The timing of this launch is also noteworthy. The creative industries are consistently touted as a cornerstone of the UK’s economy, generating £124 billion and supporting over 2.3 million jobs. Yet, as Stewart notes, government rhetoric often fails to translate into concrete action. The current push for investment, highlighted by the Creative UK summit and statements from Peter Kyle and Ian Murray, feels…familiar. It echoes the “Cool Britannia” branding of the late 90s – a burst of cultural pride that ultimately lacked sustained financial backing.

Rare Entity’s focus on immersive experiences, like the “mad concept… zombie” show in Soho and the Sonic Sphere project, suggests a keen awareness of current entertainment trends. Immersive theatre and unique venue concepts are attracting audiences seeking experiences beyond traditional concerts and films. By investing in these areas, Rare Entity isn’t just funding art; it’s betting on the future of entertainment. Stewart’s long-term vision, honed over decades in the music industry, is clear: to create a sustainable ecosystem where creativity thrives, and artists are finally in control of their own destinies. The question remains whether the industry, and the government, will finally listen.