The bank met with Impala's finance working group, which includes music and banking representatives and some EC officials. A possible new investment fund is now under discussion.

The organisation also held a meeting in Cannes with European Commissioner Michel Barnier to discuss issues such as valuing copyright as an asset and improving market access for the independent sector.

Impala executive chair Helen Smith said, "This is clearly the first step towards a European strategy to create new financial instruments and ...