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Round Hill Music has acquired the remaining share of Big Loud Shirt’s catalog of music publishing rights, bringing Round Hill Music’s ownership of Big Loud Shirt’s music catalog to 100%. Round Hill previously acquired a share of the Big Loud Shirt catalog in 2014.
Round Hill has also acquired 50% of the writer’s income streams from songwriter/producer Craig Wiseman, the founder/owner of Big Loud Shirt.
The Big Loud Shirt catalog comprises more than 1,200 songs recorded by artists including Blake Shelton, Dierks Bentley, Carrie Underwood, Faith Hill, Luke Bryan and Tim McGraw. The majority date prior to 2015, with 75% of them at least seven years old.
According to a press release announcing the deal, streaming income generated from Big Loud Shirt’s catalog increased approximately 200% from 2017 to 2021.
The deal brings new rights into Round Hill’s portfolio and expands its existing interests in songs including McGraw’s “Live Like You Were Dying” (co-written by Wiseman), Underwood’s “Before He Cheats” and “Blown Away” and Strait’s “I Saw God Today.”
According to a release, this acquisition also increases Round Hill’s exposure to the country music market, which as of December 31, 2022, comprised 11% of their portfolio.
Round Hill Music CEO Josh Gruss said in a statement, “Craig Wiseman and his publishing company, Big Loud Shirt, have produced some of the highest profile, most recognizable and enduring country music hits of the last three decades, bringing them firmly in line with the song profile of the Company’s portfolio. We have a terrific working relationship with Craig, who we have known for many years, and are deeply familiar with these songs. This investment not only enables us to further increase Round Hill Music’s exposure to the fast-growing Country music genre but also provides an exciting opportunity for us to leverage our in-house platform to manage these incredible songs, maximizing their income streams and further growing their value.”
Wiseman added, “I have known and been working with Round Hill for a decade and I’m thrilled to be expanding our relationship by sharing these incredible pieces of art with them. I know they will manage these songs carefully and effectively, identifying creative opportunities to bring them to new audiences worldwide.”
The Zombies, the British invasion rock band behind classics like “Time of the Season” and “She’s Not There,” announced this week they’ve obtained their master recordings after decades of outside control.
“It’s another stage of us not worrying about what’s going to happen in the future,” says keyboardist Rod Argent, one of the band’s founders and songwriters. “We’ve got more overseeing of everything that’s going on.”
The baroque pop originators signed with Marquis Enterprises in 1964 when they were still teenagers and almost immediately scored a No. 2 hit on the Hot 100 with their Argent-penned debut single, “She’s Not There,” which Marquis had licensed to Decca. They followed that up with another Argent original, “Tell Her No,” which peaked at No. 6. Their signature and most enduring hit — Argent’s “Time of the Season” — didn’t gain traction until after they’d broken up prior to the 1968 release of their sophomore album Odessey and Oracle on CBS. The era-defining song, with its breathy call-and-response vocals from Colin Blunstone and psychedelic keyboard runs by Argent, eventually reached No. 3 on the Hot 100.
Carole Broughton, a Marquis employee at the time, wound up controlling the band’s masters and publishing over several decades, recently placing synchs including Odessey and Oracle album cut “This Will Be Our Year” in the Schitt’s Creek finale and “She’s Not There” in a Chanel ad campaign starring Keira Knightley.
“I’d always promised [the masters] to them,” says Broughton, owner of Marquis and Bocu Group, a publisher that oversees 700 song copyrights. “We’re all in our 70s now and it just felt right. I certainly didn’t want the masters to go back to anybody else other than The Zombies.”
Rod Argent, Hugh Grundy, Chris White and Colin Blunstone of The Zombies attend An Evening With The Zombies at The GRAMMY Museum on April 27, 2017 in Los Angeles.
Rebecca Sapp/WireImage for The Recording Academy
Deal terms were undisclosed, but discussions were “three years in the making,” according to Chris Tuthill, the band’s co-manager. “My partner Cindy [da Silva] and I have been working long and hard to have it controlled and under one roof,” he says. “Although Marquis always kept a sympathetic and active role in the catalog, they didn’t necessarily do things to actively promote the catalog, particularly on DSPs.” When Marquis placed The Zombies’ “A Rose for Emily” in the hit 2017 podcast S-Town, he adds, “It would have been brilliant, had we known this was coming out, having people pitch this for playlisting and promoting the story of this song.”
Still, Broughton and Marquis were unusually fair to The Zombies during a long period when classic-rock stars lost control of their publishing and master recordings to music executives they considered unscrupulous.
“When it was fairly unfashionable, she did the most wonderful job, because she was so dedicated to us,” Argent recalls. “She continually worked it in the early days. She never let it die. That did us a huge favor.” Tuthill adds: “The guys have told me it was always very straightforward, unlike the highway-robbery stories I’ve heard from people who came up in the ’50s, ’60s and ’70s. Everything got paid through that was supposed to be paid through.”
After the COVID-19 pandemic hit in 2020, Broughton sold The Zombies’ publishing, which includes tracks by songwriters Argent, Blunstone and Chris White, to Robert Wise‘s Wise Music Group. “I’d known Bobby since I was young — he used to put out our sheet music,” says Broughton, who began her music-business career in 1961, at 14, with U.K. publisher Mills Music. “It made sense at the time. I knew they were going to be very proactive with it.”
The Zombies, who are on tour this fall and recently released a new album, Different Game, are directing their managers to dig through boxes of files and scouring original four-track tapes for potential catalog reissues. “The gem in all of this is The Zombies don’t have to ask anyone for permission to do anything with respect to their masters,” says Monika Tashman, the band’s attorney. “This is about them claiming something that seemed impossible at the early stage of their career.”
Dennis Murcia was excited to get an email from Disney, but the thrill was short-lived. As an A&R and global development executive for the label Codiscos — founded in 1950, Murcia likens it to “Motown of Latin America” — part of his job revolves around finding new listeners for a catalog of older songs. Disney reached out in 2020 hoping to use Juan Carlos Coronel’s zippy recording of “Colombia Tierra Querida,” written by Lucho Bermudez, in the trailer for an upcoming film titled Encanto. The problem was: The movie company wanted the instrumental version of the track, and Codiscos didn’t have one.
“I had to scramble,” Murcia recalls. A friend recommended that he try AudioShake, a company that uses artificial intelligence-powered technology to dissect songs into their component parts, known as stems. Murcia was hesitant — “removing vocals is not new, but it was never ideal; they always came out with a little air.” He needed to try something, though, and it turned out that AudioShake was able to create an instrumental version of “Colombia Tierra Querida” that met Disney’s standards, allowing the track to appear in the trailer.
“It was a really important synch placement” for us, Murcia says. He calls quality stem-separation technology “one of the best uses of AI I’ve seen,” capable of opening “a whole new profit center” for Codiscos.
Catalog owners and estate administrators are increasingly interested in tapping into this technology, which allows them to cut and slice music in new ways for remixing, sampling or placements in commercials and advertisements. Often “you can’t rely on your original listeners to carry you into the future,” says Jessica Powell, co-founder and CEO of Audioshake. “You have to think creatively about how to reintroduce that music.”
Outside of the more specialized world of estates and catalogs, stem-separation is also being used widely by workaday musicians. Moises is another company that offers the technology; on some days, the platform’s users stem-separate 1 million different songs. “We have musicians all across the globe using it for practice purposes” — isolating guitar parts in songs to learn them better, or removing drums from a track to play along — says Geraldo Ramos, Moises’ co-founder and CEO.
While the ability to create missing stems has been around for at least a decade, the tech has been advancing especially rapidly since 2019 — when Deezer released Spleeter, which offered up “already trained state of the art models for performing various flavors of separation” — and 2020, when Meta released its own model called Demucs. Those “really opened the field and inspired a lot of people to build experiences based on stem separation, or even to work on it themselves,” Powell says. (She notes that AudioShake’s research was under way well before those releases.)
As a result, stem separation has “become super accessible,” according to Matt Henninger, Moises’ vp of sales and business development. “It might have been buried in Pro Tools five years ago, but now everyone can get their hands on it.”
Where does artificial intelligence come in? Generative AI refers to programs that ingest reams of data and find patterns they can use to generate new datasets of a similar type. (Popular examples include DALL-E, which does this with images, and ChatGPT, which does it with text.) Stem separation tech finds the patterns corresponding to the different instruments in songs so that they can be isolated and removed from the whole.
“We basically train a model to recognize the frequencies and everything that’s related to a drum, to a bass, to vocals, both individually and how they relate to each other in a mix,” Ramos explains. Done at scale, with many thousands of tracks licensed from independent artists, the model eventually gets good enough to pull apart the constituent parts of a song it’s never seen before.
A lot of recordings are missing those building blocks. They could be older tracks that were cut in mono, meaning that individual parts were never tracked separately when the song was recorded. Or the original multi-track recordings could have been lost or damaged in storage.
Even in the modern world, it’s possible for stems to disappear in hard-drive crashes or other technical mishaps. The opportunity to create high-quality stems for recordings “where multi-track recordings aren’t available effectively unlocks content that is frozen in time,” says Steven Ames Brown, who administers Nina Simone‘s estate, among others.
Arron Saxe of Kinfolk Management, which includes the Otis Redding Estate, believes stem-separation can enhance the appeal of the soul great’s catalog for sample-based producers. “We have 280 songs, give or take, that Otis Redding wrote that sit in a pot,” he says. “How do you increase the value of each one of those? If doing that is pulling out a 1-second snare drum from one of those songs to sample, that’s great.” And it’s an appealing alternative to well-worn legacy marketing techniques, which Saxe jokes are “just box sets and new track listings of old songs.”
Harnessing the tech is only “half the battle,” though. “The second part is a harder job,” Saxe says. “Do you know how to get the music to a big-name producer?” Murcia has been actively pitching electronic artists, hoping to pique their interest in sampling stems from Codiscos.
It can be similarly challenging to get the attention of a brand or music supervisor working in film and TV. But again, stem separation “allows editors to interact with or customize the music a lot more for a trailer in a way that is not usually possible with this kind of catalog material,” says Garret Morris, owner of Blackwatch Dominion, a full-service music publishing, licensing and rights management company that oversees a catalog extending from blues to boogie to Miami bass.
Simpler than finding ways to open catalogs up to samplers is retooling old audio for the latest listening formats. Simone’s estate used stem-separation technology to create a spatial audio mix of her album Little Girl Blue as this style of listening continues to grow in popularity. (The number of Amazon Music tracks mixed in immersive-audio has jumped over 400% since 2019, for example.)
Powell expects that the need for this adaptation will continue to grow. “If you buy into the vision presented by Apple, Facebook, and others, we will be interacting in increasingly immersive environments in the future,” she adds. “And audio that is surrounding us, just like it does in the real world, is a core component to have a realistic immersive experience.”
Brown says the spatial audio re-do of Simone’s album resulted in “an incremental increase in quality, and that can be enough to entice a brand new group of listeners.” “Most recording artists are not wealthy,” he continues. “Things that you can do to their catalogs so that the music can be fresh again, used in commercials and used in soundtracks of movies or TV shows, gives them something that makes a difference in their lives.”
Distribution company and payment platform Stem said on Tuesday it raised $250 million from Victory Park Capital to expand it’s popular advance check product. Stem first started offering the product in 2020 to artists at various career stages, including artists like Justine Skye, who used the capital as bridge financing when transitioning from a major […]
Reach Music has acquired master and publishing rights to Judas Priest‘s first two records, Rocka Rolla and Sad Wings of Destiny from Gull Entertainments. As part of their new purchase, Reach will work alongside the British metal legends to release a 50th anniversary edition of Rocka Rolla in 2024 as well as other special projects. This deal builds upon Reach’s existing relationship with the band — in 2021, Reach acquired a 50% copyright interest and the administration rights to guitarist Glenn Tipton’s song catalog, beginning with songs released in 1977.
Reservoir has launched a joint venture with American Idol producer, 19 Entertainment, which is part of Sony Pictures Television and already partnered with BMG on the master side. Through their new jv, the two will jointly sign new publishing deals with some of Idol’s contestants, and Reservoir will aid in the young writers’ development.
Peermusic Australia has inked a worldwide publishing deal with Sydney-based hip-hop/rock crossover group Triple One. The agreement includes both Triple One’s full back catalog as well as future works.
Position Music has signed artist and songwriter Sam Tinnesz to a worldwide publishing deal. The deal includes some selected catalog cuts as well as all of Tinnesz future releases, including those made under his artist project and those made as a songwriter.
Prescription Songs has signed Nashville-based artist and writer Josie Dunne. As an artist she played alongside artists like Julia Michaels, COIN, Ben Rector, and Andy Grammer. As a writer, she’s create songs with Natalie Imbruglia, Corook, Spencer Sutherland, and more. She was brought into the roster by A&R Chris Martingnago.
Warner Chappell Music has signed a global publishing deal with country sibling trio Voth. The deal was signed just ahead of their next single “You Own It,” out April 28th.
Independent dance music label Armada Music said on Thursday it acquired the master recording rights of Detroit techno forefather Kevin Saunderson‘s KMS Records and Russian DJ ARTY to launch its new music investment fund focused on dance music.
The fund named BEAT–which stands for Best Ever Acquired Tracks–launches with $100 million in debt and financing from Pinnacle Financial Partners, which Armada says will be deployed over the next two years.
Launching into the redhot music IP investment market, Armada’s BEAT aims to capitalize on investments in a genre that has so far gotten less attention than others, like pop and classic rock.
A growing number of funds have launched in the past 18-months focused on genres like indie, Latin music and production music, aiming to use in-house expertise on a specific genre to find ways to make catalogs generate greater returns for the artists and rights holders.
“BEAT is in a unique position to add relevance to those tracks through creative additions, best practices in exploitation setup, and marketing methods and communication channels within the bigger (Armada) organization,” says Armada Music chief executive Maykel Piron.
BEAT says it is focused on acquiring catalogs that fall under the category of dance, including subgenres like techno, house, electronic dance music (EDM) and others. EDM alone is estimated to present a $9.5 billion market opportunity, growing to more than $20 billion in the next decade, according to a report by research firm Future Market Insights.
“We are seeing folks who are trying to be smarter, and one way to do that is to arbitrage certain genres,” says Matt Rosenberg, head of media finance at Monroe Capital. “It unlocks the investment ecosystem for more artists.”
Attached to Armada, BEAT will tap into the genre’s leading record label for “data on trends, creative resources, exploitation models (and) new artists,” Piron says.
“We are in a unique position in that we know everything on older catalogs since we have built one over the last 20 years through Armada,” Piron says. Armada has acquired catalogs from artists and dance labels, including Midtown Records, United Recordings and Combined Forces. “BEAT has 100% control over the exploitation and re-exploitation of the acquired catalogs.”
Saunderson made his name with a string of eight Top 10s between 1988-94, including “Good Life,” “Big Fun,” “Ain’t Nobody Better” and “Do You Love What You Feel” and others. The catalog of KMS, which Saunderson helped found over 30 years ago, includes Saunderson’s “Good Life” and “Big Fun,” recorded with Inner City.
“In the post-COVID period, we are seeing a huge revival of 90’s dance. Sometimes younger audiences don’t even realize they are dancing to 30-year-old tracks,” Piron says.
With a catalog of newer hits, ARTY is known for dance tracks “Sunrise,” “Save Me Tonight,” “Craving” and “Take Your Time” from between 2018 and 2021. Based in Los Angeles, ARTY has also produced and remixed songs for Skrillex, Armin van Buuren, Halsey and others.
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.”
Producer, songwriter and artist Metro Boomin – a.k.a. Leland Tyler Wayne – has sold a portion of his entire existing publishing catalog to Shamrock Capital for close to $70 million, sources close to the deal tell Billboard.
News of the sale arrives on the heels of his second album HEROES & VILLAINS, which was released on Dec. 2, 2022. The record was peppered with some of the biggest names in music, including features from Young Thug, Travis Scott, Future, Don Toliver, Chris Brown, A$AP Rocky, Gunna, and late Migos member Takeoff. The album debuted at No. 1 on the Billboard 200 albums chart, making it his second album in a row to hit No. 1 as an artist.
As one of rap and R&B’s most defining creatives, Metro Boomin has helped craft hits like “Bad and Boujee” by Migos, “Mask Off” by Future, “Congratulations” by Post Malone, “Bank Account” by 21 Savage, “Father Stretch My Hands, Pt. 1” by Kanye West, “Jumpman” by Drake and Future, “Heartless” by The Weeknd, “Waves” by Kanye West, “Child’s Play” by Drake, “Tuesday” by iLoveMakonnen, and many more.
The multi-hyphenate musician has had 99 total entries on the Hot 100 chart as a producer, including two No. 1s and 10 top 10s. As an artist, Metro Boomin has 46 total entries on the Hot 100. He has spent 18 weeks at No. 1 on the Rap Producers chart and three weeks at No. 1 on the Hot 100 Producers and Hot 100 Songwriters charts.
Representatives for Shamrock did not return Billboard’s requests for comment. A representative for Metro Boomin declined to comment.
Shamrock was founded in 1978 as Roy E. Disney’s family office and has since become an active, powerful buyer in the music catalog investment space. It’s most notable investment being that of Taylor Swift’s Big Machine catalog which the firm bought from Scooter Braun’s Ithaca Holdings in 2020. In 2021, Shamrock expanded into the lending space with a $196 million debt fund to loan money to IP owners in entertainment.
Last month, on Feb. 2, 2023, Shamrock Capital announced that it raised $600 million in a new fund (Shamrock Capital Content Fund III) aimed at acquiring film, TV, music video games, and sports rights.
Metro Boomin’s deal, along with other recent hip-hop acquisitions — like Juice WRLD’s sale to Opus Music Group for a nine figure sum, Dr. Dre’s Shamrock and UMG deal for an estimated over $200 million, and Future’s publishing catalog sale to Influence Media Partners between $65-75 million — have proved that the genre is fueling new investor interest.
Those who have been skeptical of rap catalog sales often point to the genre’s short history, which may indicate sharper — or still unknown — decay curves from other genres like rock and pop. Decay curves, which are based on past performance of other songs in the genre, refer to when the song levels out into a predictable state of income generation.
But the 50th anniversary of hip-hop special at the 2023 Grammy awards and its continued dominance on streaming platforms may reveal that rap is ready to become another sought-after genre for buyers.
“There are certain names that have been around for a long enough period that they are now of an evergreen standard,” City National entertainment banking leader Denise Colletta recently told Billboard. “Those household names in hip-hop will continue to resonate with audiences.”
Reservoir Media said Wednesday it acquired the publishing and recorded rights to the catalog of jazz living legend Sonny Rollins — aka “The Saxophone Colossus.”
A recipient of the Lifetime Achievement Award at the 2004 Grammys, Rollins is perhaps best known for his 1956 album Saxophone Colossus and its track, “St. Thomas,” which has been deemed “culturally, historically…significant” by the Library of Congress’ National Recording Registry.
A regular collaborator of other jazz giants Charlie Parker, John Coltrane, Thelonious Monk, Miles Davis and Dizzy Gillespie, among others, Rollins continued to release music, including his 2001 Grammy-winning album This is What I Do and 2006 Grammy-winning solo “Why Was I Born?”
“I’m happy that Reservoir will be helping to maintain my musical legacy, which was created in concert with so many great musicians I’m proud to be associated with,” Rollins said in a statement announcing the acquisition.
Terms of the deal were not disclosed, with Reservoir adding that it includes a “mix of rights across Sonny’s entire catalog.”
Rollins catalog is a body of work spanning more than 70 years of “musical innovation,” Rell Lafargue, Reservoir president and chief operating officer, said in a statement.
“I first learned of Sonny through his music, playing ‘St. Thomas’ as a young jazz student, and it’s incredibly meaningful that Reservoir and I can now commit to preserving Sonny’s musical legacy and amplifying his contributions to the artform for audiences old and new,” Lafargue said.
Seeker Music has signed Australian-born songwriter, producer, DJ, and artist Kito to a publishing agreement. Known for her collaborations with artists like FLETCHER, Empress Of, Jorja Smith and more, Kito’s deal is one of the company’s first frontline signings.
Kito first became known as a DJ at the start of the 2010s, remixing songs like Beyonce’s “Run the World,” Saweetie and Doja Cat’s “Best Friend,” and MARINA’s “Venus Fly Trap.” Later on, as she developed her writing and production skills, Kito earned cuts with Mabel, BANKS, Tinashé and Jorja Smith and released her own EP Blossom, featuring Jeremih, ZHU and Terror Jr.
Seeker Music was founded in 2020 and quietly amassed a catalog of music IP over the next two years, including hits recorded by Run the Jewels, Christopher Cross, Ginuwine and more. The company is administered by Downtown and funded by London-based private equity firm M&G.
Seeker Music founder and CEO, Evan Bogart, told Billboard in a previous interview that his aim was always to become a multi-hyphenate music company, developing current songwriters and artists as well as building up a robust back catalog of songs, however, the company’s frontline efforts were hindered by the COVID-19 pandemic. “I invest with my heart before money,” the executive explained, adding that meeting talent over Zoom made it difficult to foster camaraderie with potential signees. Now that in-person meetings and writing sessions have resumed, Seeker has bolstered its frontline business, signing acts like Kito as well as Sofía Valdés (Warner Records), Katie Pearlman (Kelly Clarkson, Grace Potter, Sabrina Carpenter), Sweetsound (Jesse Baez, Snoop Dogg, Natanael Cano), and MNDR.
Kito noted that she opted to sign with Seeker for its “quality over quantity” approach to its roster and that Bogart is a songwriter himself. Best known for penning hits like “SOS” by Rihanna and “Halo” by Beyonce, Kito says of Bogart “I trust Evan because he understands what it’s like to write a song and bring it into the world. He’s also built himself as a songwriter ‘business,’ and worked with, and mentored, some of the greatest writers in the world. The whole team at Seeker really ‘gets’ the creative process and what’s important to music creators. I’m excited for this next chapter together and everything we’re cooking up for 2023 and beyond.”
Bogart says of the deal, “everyone wanted to sign Kito and I couldn’t be prouder that she chose Seeker to be her family. She’s insanely talented and she’s going to dominate music, and the music business, in the years to come.”