catalog sales
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If Helen Grant, the daughter of late Led Zeppelin manager Peter Grant, is selling a 10% share of the band’s music assets, as reported by Music Week and The Times, she’s in for a very nice payout.
According to that article, Grant owns not only an interest in the band’s record catalog and song publishing catalog but also a 10% share in other rights including trademarks, merchandising and other business ventures. When he died in 1995, Peter Grant, who owned a 20% stake in the band’s music assets, appears to have split that stake evenly between Helen and her brother Warren, leaving each of them a 10% share.
While Led Zeppelin originally signed to Atlantic Records back in 1968, in 1975 the band started its own record label, Swan Song, and began issuing its music under that logo beginning with its fifth album, Physical Graffiti. Like other superstar acts of its day, the band later negotiated to obtain ownership of its entire recorded masters catalog, not just the Swan Song records, according to sources.
It’s unclear if Led Zeppelin still owns the rest of the Swan Song catalog, which includes albums by Bad Company, the Pretty Things and Maggie Bell — and, if it does, whether Helen Grant has a stake in that and is offering it up for sale, too. At the very least, according to the most recent filing containing a list of shareholders for Bad Company Entertainment, the Peter Grant estate has a 20% stake in that company as well. It’s unclear if that interest is a part of any contemplated sale.
The Music Week article reports that Helen Grant has hired Ian Penman of New Media Law to shop her share of the Zeppelin assets. Penmen didn’t respond to an e-mail request seeking to confirm the potential asset sale. Warner Music Group declined to comment, while queries to other possible press representatives for the band went unanswered.
According to a list of shareholders included in the last filing from Superhype Tapes Ltd — one of the dozen or so companies affiliated with the Led Zeppelin principals that have filings in Companies House (the U.K. equivalent of the U.S. SEC) — dated July 30, 2014, Led Zeppelin guitarist Jimmy Page owns 80% of the shares of Led Zeppelin music assets, while Helen and Warren Grant own 10% each. However, in the company’s July 25, 2000, filing, Page and the estate of Peter Grant were each listed as having a 50% stake in the company, while Page and fellow Led Zeppelin members Robert Plant and John Baldwin [aka John Paul Jones], as well as Joan Hudson of the band’s accounting firm, were listed as directors of the company. It’s unclear how or when the percentages changed and if it occurred through a negotiation or an earlier buyout of a portion of the Grant estate’s share in the company.
It’s also unclear which Led Zeppelin assets fall under this company, although its incorporation document, filed in October 1969, states that it was established to manufacture, produce, buy, sell, exploit and deal in gramophone records, tapes, sound recordings and other sound bearing devices and musical instruments, among other possible business lines. On the other hand, as noted, Superhype Tapes appears to be one of about a dozen companies incorporated for Led Zeppelin that have listings in Companies House, although some of those listed companies are dormant. Consequently, it’s unclear which Led Zeppelin music assets fall under the control of Superhype Tapes.
Another Led Zeppelin-affiliated company, United Blag Productions, shows Helen Grant with a 10% stake, while the other three living Led Zeppelin members each have 22.5%, as do the Bonham heirs, collectively.
According to what appears to be incorporation papers for United Blag — filed under its previous name of Langwest on Aug. 16, 1974 — around the time of the formation of Swan Song, the purpose of the company was to act as managers for singers, musicians and other creative entertainers as well as to produce and distribute sound recordings of all kinds as well as handling pictures, films and TV show appearances of all kinds.
Regardless of the incongruent ownership stakes listed for the Led Zeppelin members for Superhype Tapes and United Blag Productions, it looks like Helen Grant is selling a 10% stake in the band’s assets controlled by those two companies, which would mean she is selling a passive royalty income stream.
Still, the iconic Led Zeppelin catalog remains a considerable economic driver — averaging just over 1 million album consumption units annually in the United States alone over the last three years. As such, Billboard estimates that the band’s master recordings catalog generates about $24 million in revenue annually and that after deducting for production and distribution, the band likely reaped about $21 million of that amount. If the recordings carried a 20 times multiple, that would give the Led Zeppelin recorded masters catalog a nearly $420 million valuation — 10% of which would be $42 million.
Meanwhile, Billboard estimates that the publishing catalog averaged about $10.4 million annually over the last three years. After deducting a 10% administration fee, that would leave $9.4 million in revenue for the band, which at a 25 times multiple would be worth about $235 million.
While that valuation uses a high multiple, which some music asset traders might question, that concern would likely be offset by the upside potential for generating additional revenue through synch licensing. While synch typically can comprise about 25% of a publishing portfolio’s revenue base, Led Zeppelin has been very selective in granting licensing opportunities, which likely has depressed the band’s overall publishing revenue. Billboard’s valuation model uses a much smaller percentage than 25% of revenue for synch royalties in extrapolating overall publishing revenue.
Regardless of the publishing catalog’s valuation, it’s unclear how Grant would be paid from that considering that the principal songwriters in the band likely each own their publishing, as well as their songwriter share.
On the other hand, it’s conceivable that the band, along with Grant, collectively owns its publishing, which would divide 50% among the four band members and the Grant heirs, leaving the other 50%, or $6.35 million, for the songwriters to split; or that Grant owned 20% of the publishing and the band members owned the remaining publishing stakes in each of the songs they composed. Either way, that could leave Helen Grant with a 10% stake in the publishing, or a 5% stake in the publishing revenue, resulting in a $15 million-$16 million valuation, if the Grant estate indeed does own a stake in the band’s publishing.
But Billboard could find no mention of a Grant ownership stake in the sole Led Zeppelin publishing company that appears to be an ongoing operation, Flames of Albion Music, listed at Companies House.
The last document for that company, filed on May 11, 2016, listed Page, Plant, Baldwin and the Bonham heirs — Patricia Bonham, Jason Bonham and Zoe Bonham — as shareholders, while neither of the Grant heirs are listed.
But there is still merch revenue, trademarks and likeness and image to consider. Billboard estimates that Led Zeppelin averages about $2 million in merch each year. At a 10-times multiple, that would arrive at a $20 million valuation, with a 10% stake translating to $2 million. (Collectively, Billboard‘s valuation for Led Zeppelin’s recorded music, publishing and merch is about $670 million.)
Primary Wave has purchased a stake in the publishing catalog of Kool & The Gang founding band member and drummer George Brown, the company announced Wednesday (June 28). The sale also includes a stake in the Grammy winner’s writer’s share of his music publishing and the writer’s share of his public performance income.
The deal — which includes classics like “Ladies Night,” “Celebration,” “Get Down on It,” “Cherish,” “Jungle Boogie,” “Summer Madness” and more — is in the multi-million dollar range, according to Primary Wave.
In addition to Brown, Kool & The Gang is comprised of Robert “Kool” Bell, Ronald Bell, Dennis “Dee Tee” Thomas, Robert “Spike” Mickens, Charles Smith, Woodrow “Woody” Sparrow and Ricky West. The Jersey City troupe first got its start on indie label De-Lite Records, which released the band’s debut album, Kool and the Gang, in 1969. The group broke through in 1973 with its fourth album, Wild and Peaceful, which contained hits like “Jungle Boogie” and “Hollywood Swinging.” Pulling from funk, soul, R&B, disco and jazz influences, Kool & The Gang’s work also played a defining role in the soundtracks for Rocky (1976) and Saturday Night Fever (1977).
For its impressive body of work, Kool & the Gang has received two Grammy awards, seven American Music Awards and was inducted into the New Jersey Hall of Fame. The group also received a star on the Hollywood Walk of Fame, while Brown — along with bandmates Taylor and Robert and Ronald Bell — was inducted into the Songwriters Hall of Fame in 2018.
“I am very pleased to call Primary Wave my music partner and to join with dozens of other iconic artists and creatives in an incredible business family,” said Brown of the deal. “I look forward to collaborating with Larry Mestel and the entire Primary Wave team to further enhance my catalog and the Kool & The Gang brand.”
Kendall A. Minter, Brown’s legal counsel, added, “As counsel to George Brown and Astana Music, it was my pleasure to initiate, negotiate and close this deal with Primary Wave. The alignment of a globally iconic artist and creative talent with an iconic, global independent music publisher and brand enhancer is a win-win for the entire music community and fans.”
“Kool and the Gang’s influence on generations of musicians and fans around the globe cannot be denied,” said Primary Wave senior vp of business and legal affairs Samantha Rhulen. “A few of us from Primary Wave were excited to have been in the audience when they were inducted into the Songwriters Hall of Fame in 2018, and we are so thrilled to now be partnering with George Brown in 2023.”
BMG has acquired a major interest in Paul Simon‘s portion of the Simon & Garfunkel catalog. This sale includes the Grammy winner and two-time Rock & Roll Hall of Fame inductee’s royalty income for all of Simon & Garfunkel’s recorded music as well as his neighboring rights income to that music as well. Simon & […]
BMG acquired the recording catalog of British band (and Rock & Roll Hall of Famers) The Hollies. The deal includes over 20 studio, compilation, live and tribute album titles and rarities that are wholly owned by the group, including Evolution and Butterfly (1967), Hollies Sing Dylan and Hollies Sing Hollies (1969), Confessions of the Mind (1970); Distant Light (1971), Romany (1972), Out on the Road (1973); Hollies (1974), Another Night (1975), Write On and Russian Roulette (1976), Hollies Live Hits (1977), A Crazy Steal (1978), Five Three One – Double Seven O Four (1979), Buddy Holly (1980), and Then, Now, Always (2009). The agreement encompasses eight of The Hollies’ most-streamed tracks, including “Carrie Anne,” “King Midas In Reverse,” “Jennifer Eccles,” “On A Carousel,” “He Ain’t Heavy, He’s My Brother,” “Long Cool Woman (in a Black Dress)” and “The Air That I Breathe,” as well as the group’s cover versions of “4th of July, Asbury Park (Sandy)” (Bruce Springsteen), “Boulder to Birmingham” (Emmylou Harris) and “Say It Ain’t So, Jo” (Head).
Soundtrack Your Brand, a global music streaming service for businesses, announced a $15 million pre-growth round led by Matt Pincus‘ MUSIC in partnership with Liontree, JS Capital Management and Schusterman Family Investments. The round also included funding from music investors Dundee Partners and was supported by all major existing Soundtrack Your Brand investors including Balderton Capital, Fuel Venture Capital, Industrifonden, Telia and DIG. The investment will allow Soundtrack Your Brand to “double down” on its go-to-market strategy, according to a press release. Along with MUSIC’s investment, Pincus will join Soundtrack Your Brand’s board. In 2024, the company plans to raise an additional growth round.
ADA Worldwide partnered with Rostrum Records to distribute the indie label’s entire catalog and new releases. Recent Rostrum releases include Fat Nick’s “Songs on the Radio” and DC The Don’s “Funeral” as well as new music from Alé Araya and Brevin Kim. Forthcoming releases include music from Fat Nick, Lou Phelps and My Favorite Color.
Yoto, an audio platform for kids that’s behind screen-free portable audio players the Yoto Player and Yoto Mini, signed a deal with Warner Music Group that will make music from some of WMG’s artists available on the players. The partnership kicks off in June with music from Super Simple Songs, a popular YouTube channel boasting original children’s songs and traditional nursery rhymes that’s been distributed by WMG’s arts music division since 2020. Next year, Yoto will create “cards” featuring music from a curated group of WMG’s pop, rock and soul artists.
Believe signed a marketing and distribution deal with Global Records Germany, the new Berlin branch of independent label Global Records. The first release under the agreement is “Party Songs” by Gamuel Sori & INNA, which dropped June 9.
Would you rather own the rights to Bruce Springsteen’s song catalog or the musical scores to hit Nickelodeon TV shows such as iCarly, Victorious and Henry Danger?
While those tween comedies may not be household names, fans stream them worldwide, and unlike Springsteen’s masters and publishing rights — which Sony bought for $500 million in 2021 — the rights to their scores sold for tens of millions, presenting, for some, an appealing and approachable investment.The Nickelodeon shows’ music is an example of the kinds of deals being done by a new crop of music investment funds that are focused on acquiring the one type of music they know best, often for a much lower price than the deals making headlines.
Funds like Armada Music’s BEAT (focused on dance), Jamar Chess’ Wahoo Music Fund One (Latin), Singapore’s blackx (the Asian music market) and Multimedia Music (film and TV music) have all launched in roughly the last 18 months with similar aims: to exploit their specialized genre knowledge and industry connections to buy rights to songs in one category and earn a return.
The principals of these funds, which have raised between $100 million (BEAT, blackx) and $200 million (Multimedia) from banks and investment firms, say the primary difference between them and funds like Primary Wave and Hipgnosis, which have institutional and private equity backing, is that their success hinges on a lower cost of entry and therefore present less risk.
“It’s a niche within a niche,” says Phil Hope, founder/CEO of Multimedia Music, which recently bought the music income and copyrights to scores from the Nickelodeon shows. “People see that there’s a well-priced opportunity in what we’re doing. Is it as obvious or as sexy as buying a big artist’s catalog? It needs a bit of explaining.”
Each fund faces its own challenges, but in an investment class, where the slowing of streaming growth and high interest rates are prompting greater investor scrutiny, these funds present the next natural step, says Bob Valentine, president of Concord. “We are now at the evolution stage of the investment thesis,” says Valentine, who will become Concord’s CEO in July. “There is still supersize growth in some of these genres — like Latin, dance, EDM. Investment managers are thinking, ‘The cost of capital is going up. Let’s find the genres that are going to outpace that index trend. Then, if the cost of capital goes up, we still outpace it.’ ”
Founded in late 2021 by Hope and James Gibb, Multimedia Music has acquired the rights to dozens of film and TV scores, including James Newton Howard’s catalog (Pretty Woman, Fantastic Beasts and the Hunger Games films), the STX music library catalog (Bad Moms, The Foreigner) and in-demand composers like Tyler Bates (the Guardians of the Galaxy and John Wick franchises, Deadpool 2).Multimedia has raised $200 million in debt and investment from Metropolitan Partners, Pinnacle Financial Partners and others to buy the rights to film and TV music that is reliably played — whether streamed, broadcast or licensed by filmmakers.
“Initially, investors were excited but didn’t understand it. They kept saying, ‘I don’t know who’s going to be streaming film and TV music on Spotify,’ ” Gibb says. “What we’re looking at are the TV shows and films that have longevity so that every time they get played anywhere in the world, we get streaming royalties paid back to us.”
Chess, whose Latin music-focused Wahoo Music Fund One launched in 2022, says he also spends time educating prospective investors. “You’re buying into cultural artifacts and less into a net publisher’s share of now. That’s why it’s a good deal,” says Chess, whose grandfather, Leonard Chess, co-founded Chicago’s legendary Chess Records.
Last year, Wahoo acquired a 50% stake in the publishing and recording catalog of Oro Solido, a classic merengue group, for an undisclosed amount. Chess says he is in talks to acquire two more catalogs that are also considered classics in the Latin genre — a status that makes them marketable for new recordings and sampling by current Latin artists.
But despite the surging popularity of Latin American music — recorded-music revenue grew by nearly 26% in Latin America last year, according to IFPI — Chess says investor interest is still lagging.“We are not competing against a Sony buying [Bad Bunny’s label] Rimas,” says Chess, who is also president of Spirit Music Latino. “There is a wealth of opportunity across the [Latin American] territories, and sometimes lining up investors can be a challenge.”
BEAT Music Fund was launched in April by independent dance music label Armada Music. Its first acquisitions were rights belonging to artists it has ties to, like Detroit techno forefather Kevin Saunderson’s KMS Records and Russian DJ ARTY. BEAT enters the investment space at a time when the global dance music industry grew by 34% to $11.3 billion in revenue in 2022. Its fan base is also growing 10 times faster than hip-hop on TikTok, according to a new report from MIDiA Research.
“Our plan is to invest $100 million in its first two years and increase the investment to at least $500 million in coming years,” says Nadine van Bodegraven, COO for the fund. “Our goal is to announce at least one new deal every month this year.”
Rod Stewart has backed out of a potential catalog sale to Hipgnosis after two years worth of negotiations with the company, a representative for the singer told Billboard.
Citing that he wanted to retain the ownership of his song catalog, Stewart said in a statement, “this catalog represents my life’s work. And it’s became abundantly clear after much time and due diligence that this was not the right company to manage my song catalog, career or legacy.”
Hipgnosis declined Billboard’s requests for comment, citing a non-disclosure agreement.
Further details about the potential catalog sale are not known, including whether he intended to sell his full catalog or just a smaller piece or royalty stream. Stewart’s team declined to comment further on the deal when asked for specifics.
Two music asset buyers independently noted to Billboard that Stewart’s public statement might be a “great way to drum up business for the catalog” and “to generate calls from potential suitors,” but another source noted it seems that a star of this magnitude would not need to speak out publicly in order to gain the attention of other buyers.
A two-time Rock and Roll Hall of Fame inductee, Stewart is one of the most celebrated and recognizable singers in pop music history. Some of his greatest hits across his more than five-decade career include “Maggie May,” “Tonight’s the Night (Gonna Be Alright),” “All for Love,” “Da Ya Think I’m Sexy?” “Baby Jane,” “Forever Young,” “One More Time,” and more. He first rose to prominence in the late 1960s as the lead singer for Jeff Beck’s post-Yardbirds effort The Jeff Beck Group and later as frontman for Faces, alongside fellow Beck alum Ronnie Wood.
By 1971, the raspy-toned singer had become a household name with his own solo album Every Picture Tells A Story and its surprise radio hit “Maggie May” which went on to simultaneously top the charts in the UK, US, Canada and Australia. From there, through the 1970s and 1980s, Stewart remained one of the mainstays on Billboard’s Hot 100 chart, continuing to earn hits as he experimented with daring elements of glam, disco, new wave, synth pop and more in his work.
His impact on music has continued into the 21st century, though mainly through covers. In the early 2000s, he found renewed success though a series of albums mining American pop standards and since then has released collections focusing on soul, rock classics and more, further cementing his legacy as one of music’s great vocalists.
Beyond landmark deals that have helped it amass a catalog of over 65,000 songs and records, Hipgnosis Songs Fund, the portion of the Merck Mercuriadis-founded company that is publicly traded on the London Stock Exchange, has struggled since last summer, with its share price declining by 27% from a year ago to 81.85 pence. “I’m not going to pretend that the current share price is anything other than disappointing,” Mercuriadis told investors in December. SONG reported its 2022 revenues rose 7.5% over the year prior.
With few levers to pull to grow Hipgnosis Songs Fund — the fund has been fully invested, meaning it has no additional funds to acquire new rights, for more than a year — Mercuriadis has struck deals with companies like Timbaland’s Beatclub to open up Hipgnosis’s catalog to more synch and sample opportunities.
Hipgnosis’ Blackstone-backed fund does not disclose its financials. While heightened macroeconomic concerns and interest rates have increased investor scrutiny for big-ticket deals, Hipgnosis and Blackstone have so far acquired rights to Justin Bieber’s catalog for an estimated $200 million in the last year. Other recent deals for Hipgnosis in general include songwriter Tobias Jesso Jr. and TMS, the British songwriting trio behind hits like “Someone You Loved” by Lewis Capaldi.
With reporting by Elizabeth Dilts Marshall
When it comes to the red-hot market for music rights, the only people who may be more important than the buyers and sellers are number crunchers like Nari Matsuura.
The Ottawa, Ontario, native is the partner of Barry Massarsky and founder of the valuation division of their music economics and valuation services practice at Citrin Cooperman, one of just a handful of firms that calculate the future growth rates and discounts essential to determining a music catalog’s market value.
From 2021 to 2022, Matsuura estimates she oversaw 750 catalog valuations totaling $15.5 billion for such clients as Hipgnosis Songs Fund, Primary Wave and Reservoir Media.
But as billions have flooded the music intellectual property market, the practice of valuing catalogs has encountered unexpected controversy, with Massarsky and Matsuura’s team occasionally in the middle. Banks put considerable weight on catalog valuations when determining how much to lend to a buyer, and some question whether Citrin Cooperman’s discount rate — which has not budged since spring 2022 — ignores macroeconomic pressures, such as the rising cost to borrow, that could affect valuations. Lower valuations could lead banks to decrease the amounts they lend overall, which could have a cooling effect on the market. “The reason we did not increase our discount rate along with the rising interest rate environment is because we had originally started at a higher discount rate so that we could accommodate for that rise,” Matsuura says. “We knew that this low interest rate environment was not sustainable in the long term.”
Primary Wave Music has acquired the artist royalties of late Lynyrd Skynyrd founding member and drummer Bob Burns, whose credits include recordings on the band’s first two albums, 1973’s (Pronounced ‘Lĕh-‘nérd ‘Skin-‘nérd) and 1974’s Second Helping, plus subsequent compilations that those tracks appear on. While exact terms of the deal were not disclosed, the company said it was a multi-million deal.
In the U.S., the Southern rock band’s entire catalog has averaged 666,000 album consumption units over the last three years, according to Luminate. Of that, the band’s Second Helping album accounted for almost 182,000 units over that time period, while the historical data for the first album was unavailable from Luminate at press time. Those albums include many of their signature songs, namely “Free Bird,” “Sweet Home Alabama,” “Gimme Three Steps,” and “Simple Man.”
“Lynyrd Skynyrd’s first two albums are timeless and are celebrated to this day,” Primary Wave Music’s svp of business & legal affairs Samantha Rhulen said in a statement. She goes on: “To have Bob Burns’ contribution to this iconic music as part of our catalog is an incredible honor and the team at Primary Wave will ensure that his legacy is recognized by generations to come.”
Burns died in a car accident on April 3, 2015 in Cartersville, Ga. at the age of 64. The band’s last surviving original member, Gary Rossington, died earlier this month at 71.
According to Luminate, Skynyrd has garnered 27.1 million album consumption units in the U.S. According to the Primary Wave announcement, the band has been ranked on several best-of lists, including Rolling Stone‘s “100 Greatest Artists of All Time” — and in 2006, they were inducted into the Rock & Roll Hall of Fame.
Primary Wave continues to be a leading buyer of legacy rock and R&B. In the last six months, it has acquired entirely or an interest in the publishing and/or recording artist royalty income streams in the catalogs of Doors members Robby Krieger and Ray Manzarek, punk icon Joey Ramone, songwriter and E Street Band member Stevie Van Zandt, and Huey Lewis and The News.
John Sebastian‘s songwriter interest in The Lovin’ Spoonful catalog has been acquired by AMR Songs, a music asset investment firm and music company that’s been quietly scooping up rights for the last two years. AMR also purchased all rights from Sebastian’s solo catalog, as well as the master recording catalog of reggae band Soja, among other investments.
Terms of the deals were not disclosed.
AMR is led by former Billboard editorial director Tamara Coniff, the firm’s founder and CEO, and private equity veteran Steve Reinstadtler, who is CFO. According to sources, the firm has raised $100 million from institutional investors. In addition to acquiring all forms of music royalties, AMR will also sign developing songwriters and work closely with established writers.
The Sebastian deal includes the writer share of his Lovin’ Spoonful catalog, including “Summer in the City,” “Do You Believe in Magic,” “Daydream,” “Younger Girl,” “You Didn’t Have to Be So Nice,” “Did You Ever Have to Make Up Your Mind?” and “Nashville Cats.” It also encompasses the publishing and writer share from his solo career, including the song “Welcome Back,” as well as artist royalties from his band and solo work.
“AMR’s involvement in my catalog, and specifically the enthusiasm I’m feeling from Tamara Conniff about this material, will ensure that my songs will keep singing for a good long time,” Sebastian said in a statement.
Conniff has more than 20 years of experience in music publishing. She began by managing the interests of her late father, band leader Ray Conniff, and has also held executive positions in music publishing, including as executive vp of Roc Nation Music Publishing and COO of Artist Publishing Group. Reinstadtler’s prior experience includes serving as co-head of TD Capital and as a partner in SR Capital Advisors.
“I’m ecstatic to announce the launch of AMR Songs and fully realize our vision of building a truly creative home for our artists and writers — not just acquiring rights, but proactively nurturing and marketing catalogs, signing and developing artists with frontline operations,” Conniff said in a statement. “We’ve established a stellar film and TV sync licensing team, label distribution and digital marketing support to uniquely foster new opportunities and revenue growth for our roster and catalogs.”
AMR’s team also includes Lydia Yerrick, vp of business affairs and administration, and Justin Mandel, manager of social media and royalty analysis, as well various consultants. Additional staff will be announced soon, the company said.
The AMR catalog, which numbers 1,500 songs and growing, is administered by Warner Chappell Music.
AMR’s investment in Soja’s catalog spans from the band’s inception through 2020 and covers music publishing, artist royalties and various master recordings, including the albums Born In Babylon, Strength to Survive and Amid the Noise and Haste.
“We’re passionate about the music and incredibly proud to represent and take care of these amazing works, ensuring they are exposed to new audiences for generations to come,” Conniff adds in a statement.
Other investments include the writer share of funk guitarist Ronald “Kat” Spearman’s song catalog, including Jade’s “Don’t Walk Away”; John Boylan’s producer share, which includes the first Boston album; and the publishing rights of Taylor Philips — namely Luke Combs‘ “Hurricane” and Kane Brown’s “Homesick.”
Beyond that, AMR has signed a global music publishing deal with producer and writer Erik Janson. It is also launching its own label, AMR Songs, and has signed Australian artist EJ Worland to both a recording and publishing deal.
Conniff notes that AMR is “agnostic about which rights we will buy” going forward, adding that the company has an eye on niche genres because each has its own ecosystem and brand of dedicated fans. “Reggae, rock, Christian and jazz fans are not fickle,” she says.
The Nettwerk Music Group has recapitalized, bringing in a new investor in the form of Flexpoint Asset Opportunity Fund II and additional funding from existing investors Beedie Capital and Vistara Growth. Flexpoint Asset Opportunity Fund II is a buyout fund managed by Flexpoint Ford, a private equity firm with approximately $7.8 billion of assets under management. Terms of the funding weren’t disclosed.
“The capital from Flexpoint will enable Nettwerk to invest in artists and make music catalogue acquisitions that will benefit from the fast-growing independent sector of the music industry,” Nettwerk CEO and co-founder Terry McBride said in a statement. “We’re excited to partner with Flexpoint as we continue to execute on our vision of connecting artists with their fans globally.”
Nettwerk describes itself as a full-service artist development and music intellectual property brand builder with a history spanning nearly 40 years. Its current roster includes Passenger, Syml, Banners, the Album Leaf, Matt Maltese, Wild Rivers and Wrabel among many others.
“Nettwerk has been at the forefront of the evolution in the independent music sector building a compelling catalogue of music by offering white-glove services and growth opportunities to independent artists traditionally reserved for superstars,” Flexpoint managing director Mike Morris said in a statement. “We believe Terry and the team are well positioned to prosper in the rapidly evolving music industry and are excited to help the team execute their vision.”
Beedie Capital managing director David Bell added, “The team at Nettwerk are differentiated leaders in a complex industry, and we are excited to support them through continued execution of their unique, artist-centric strategy.”
Artisan served as buyside financial advisor and Latham & Watkins and Bennett Jones served as legal counsel to Flexpoint. Cooley and Morgan Daniels Slager served as legal counsel to Nettwerk.