Tim Delaney, who was most recently working with Maverick as part of U2’s management team, has been named CEO of newly launched U.K. based artist development firm, Funnel Music. He brings more than 25 years of experience to the role.

Funnel Music, which launched in October with a slew of shows for up and coming artists, aims to address the need for longer term artist development and create sustainable careers. Founded by Ric Yerbury and Alex Pilkington, the model incorporates key elements of rights holding music companies and artist services offerings, providing a one-stop solution covering all aspects of an artist’s career.

The “Shared Outcome Agreement” that the company offers artists means that professionals who commit to early stage acts can participate in future projects regardless of their direct involvement. It intends to help reduce costs associated with early stage development without compromising access to quality services, experience and expertise.

“Tim Delaney is an internationally respected industry executive who has worked at the most senior level at some of the most high-profile music companies and with some of the biggest artists in the world,” Yerbury said. “He has wide-ranging experience across both music and technology, most recently helping new companies grow their offerings. He brings valuable insight and leadership to businesses such as our who are developing new ways to approach the artist/industry/fan dynamic.”

Delaney started his career in Australia, where he was MD of Mercury Records in the mid-'90s, before moving to London to join Polygram. He has also worked for Island, RCA, Arista and J Records in the US, U.K., Australia and Asia, in senior roles at Live Nation and a number of start-ups in the music and ticketing space.

Delaney joins a board that includes former V2 Records MD David Steel, who is Director of Artist Management for the company, and Funnel Music COO Joss Yerbury, previously Senior Label Manager at InGrooves. They are supported by former President of Sony Music International Rick Dobbis, Music Glue Founder Mark Meharry and Joe Romulus. Dobbis, based in the U.S. as is Romulus, was also President of the PolyGram Label Group and held senior positions at Arista and RCA.

Delaney said of his new role: “I have always been drawn to companies who strive to apply new ways of thinking to the music business. Artists have long faced unnecessary barriers to entry through lack of access to experience and expertise.

"By offering industry professionals the opportunity to be part of sustainable artist careers and incentivising them to participate in early stage development, Funnel Music is levelling the playing field for talent and creating real opportunities for long-term success.”