Publishing
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A new London-based buyer has entered the already crowded catalog acquisition market. Called Bella Figura Music, the company was founded by former BMG U.K. president, Alexi Cory-Smith, who will act as CEO, and former BMG global investments division leader, Neelesh Prabhu, who will act as head of investments.
According to the company’s announcement, Bella Figura Music is a “purpose-built, artist-centric music company, bringing together leading technology and a relentless focus on creative excellence.”
Over the last year, Bella Figura’s team has been quietly amassing a catalog of recording and publishing assets with financing aid from private equity fund Freshstream.
So far, Bella Figura has acquired the publishing catalog of Guy Chambers, one of the songwriters behind Robbie Williams‘ “Angels,” “Feel” and “Let Me Entertain You,” as well as David Gray‘s record label IHT, which owns and controls all of the singer-songwriter’s albums, from 1998’s White Ladder to 2019’s Gold in a Brass Age.
According to the company’s announcement, Gray is “closely involved with Bella Figura Music,” acting as an “interested party” in the catalog’s business dealings. Gray’s management team at Mick Management will remain closely involved with the catalog, new products and new initiatives. “Dave remaining involved financially and with creative controls and input intact was a key feature of us wanting to do the deal,” says Cory-Smith. “This is the kind of deal we really like.”
Other acquisitions by Bella Figura include R3HAB‘s recorded music catalog up until 2022, including “All Around the World,” “Sad Boy,” “Runaway” and “Call Me”; AWAL’s divested portfolio of rights, including shares of recordings by Gray, Placebo, The Wombats and Dashboard Confessional; songwriter-producer Darrell Brown’s publishing shares in 25 of his songs, including songs performed by LeAnn Rimes and Keith Urban.
“I view David Gray and Guy Chambers as the founding blocks on which we build the business,” Cory-Smith says. “One is records, the other is publishing — both top quality catalogues. I am very proud of what we have achieved in Bella Figura Music’s first year of business.”
Cory-Smith adds, “I’ve always wanted to have my own music company and after years in corporates, the timing to take an entrepreneurial path felt right.”
“I’ve been looking for a new partner for my music for quite some time, so when I heard about Alexi and Bella Figura I thought it had the potential to be a good fit,” says Gray. “They struck me as a company with serious ambitions, an eye for detail and a point to prove, and the fact that I had a good relationship with Alexi from her time at Chrysalis/BMG was definitely a major positive too. The world of music and technology is in a state of constant flux and it’s vital to work with people who are not only attentive to its challenges but also alert to its opportunities. I feel very optimistic that with Bella Figura I’ve found just that.”
“I’m so pleased to be working with Bella Figura,” adds Chambers. “I think Alexi is one of the most dynamic executives working in the music industry. Having Alexi at the helm of Bella Figura is an exciting prospect for what is a new and vital area for songwriters in the industry today.”
George Gershwin‘s heirs have opted to renew their long-term publishing administration deal with Raleigh Music Publishing. The deal is specifically for the works owned under A Gershwin, LLC, which holds a major share of Gershwin’s copyrights, including “Rhapsody in Blue” (arr. Ferde Grofé), works from musicals like Porgy and Bess, Shall We Dance, Crazy for You, An American in Paris, Nice Work If You Can Get It, and more. Songs from these stage productions remain some of the most vital musical works in American history, including “They Can’t Take That Away from Me,” “Love Is Here to Stay,” “Let’s Call the Whole Thing Off,” “A Foggy Day,” and “Summertime.”
Sony Music Publishing has extended its global partnership with David Gates and his publishing company Kipahulu Music which began in the 1960s. Gates is best known as the frontman of the band Bread and as the songwriter of hits for The Murmaids and The Monkees, and worked with Elvis Presley, Bobby Darin, Merle Haggard and more. His hits include “If,” “Everything I Own,” “It Don’t Matter To Me,” “Baby I’m-A Want You,” “Make It With You” and many more.
Warner Chappell Music has signed a worldwide publishing deal with MZMC Inc. Korea Co. — a popular production and publishing company in the K-pop market. Under the partnership WCM will be administering MZMC’s entire music catalog worldwide, including hits like ‘Fine’ by Taeyeon; ‘Ko Ko Bop’, ‘Love Shot’, and ‘Tempo’ by EXO; RBB (Really Bad Boy)’ by Red Velvet, as well as ‘We Go Up’ by NCT DREAM.
Ultra International Publishing has expanded its Afrobeats operations to Nigeria and has formed a new creative hub there. Ultra has appointed Harold Serero, a London-based A&R manager, to oversee the operation. The company’s signings within the genre include Tejiri Akpoghene who is signed jointly between Ultra and Revels Group’s publishing arm Coup D’Etat Music. They have also signed Maesu, a rising Afrobeats artist, and Amexin to publishing agreements.
Marv Green has inked a global publishing deal with Red Door Music Group and Warner Chappell Music. Over the past few years, he has worked with Morgan Wallen, Jake Owen, Eric Church, Brooks and Dunn, Jon Pardi, Midland, Lee Brice, Tim McGraw and more. He is most known for his BMI Song of the Year-winning track “Amazed,” which was released by Lonestar.
Boosey and Hawkes, which is part of Concord, has added ballet score Mythologies to its catalog. Written by Thomas Bangalter of Daft Punk, the ballet set to his score has been touring France and Italy since April 2022.
Warner Chappell Music, Liz Rose Music and Jimmie Allen have come together to jointly sign Cameron Bedell to a global publishing agreement. The singer-songwriter from Wichita, Kansas recently co-penned “Down Home” by Allen.
Sentric Music has signed Mason, a Dutch producer and DJ, to an exclusive publishing administration deal. The talent has been making dance music since his breakout song “Exceeder” in 2006. Since then he has worked with Roisin Murphy, Shingai, Aqualung, Kurtis Blow, Sway, and more.
Minds on Fire, a pop and dance-focus music publishing company, has announced that it is partnering with BMG. Its catalog will now be administered by BMG and future co-publishing signings will be done jointly with the Berlin-based company as well. The first signings to this new deal are Emre Turkmen and Michael Goldsworthy, founding members of the group Years & Years.
King Pen Music and Warner Chappell have joined together to sign a global publishing agreement with Liam St. John, a blues singer-songwriter and former contestant of The Voice (Season 19).
Sting will become an Academy Fellow, the highest honor The Ivors Academy bestows, at the 2023 Ivors, which will be presented at Grosvenor House in London on May 18.
Sting is the 23rd Fellow that the Academy has inducted in its 79-year history. He follows such songwriting greats as Sir Paul McCartney, Kate Bush, Joan Armatrading and Peter Gabriel. The latter received the award last year.
“Of all the awards in the world of music, The Ivors are for me, the most prestigious,” Sting said in a statement. “Songwriting is a skilled craft and The Ivors Academy are its guild. So, I am delighted and honoured to be offered this Fellowship of the Academy, joining and acknowledging this extraordinary group of fellow songwriters, and all of those who went before us.”
Sting has won seven Ivor Novellos, including their Lifetime Achievement Award in 2002. He was inducted into the New York-based Songwriters Hall of Fame that same year.
Sting has won 17 Grammys, including two in songwriting categories – the 1983 award for song of the year for “Every Breath You Take” and the 1991 award for best rock song for “The Soul Cages.” He won a 2002 Primetime Emmy for outstanding individual performance in a variety or music program for A&E in Concert: Sting in Tuscany…All This Time. In addition, he has been nominated for the two other EGOT awards. He has amassed four Oscar nods for best original song and a 2015 Tony nod for original musical score for The Last Ship.
Speaking on behalf of The Ivors Academy, Armatrading, Sting’s labelmate at A&M Records from the late ’70s into the early ’90s, said: “Across all of Sting’s work as a solo artist and with the iconic band The Police, he is without doubt one of the UK’s foremost successful songwriters and performers and is certainly deserving of one of the most prestigious awards in the music business. My huge congratulations on being made a Fellow of The Ivors Academy, Sting.”
Sting is managed by Martin Kierszenbaum of Cherrytree Music Company.
The Ivor Novellos, which were first presented in 1956, are judged by songwriters and composers from The Ivors Academy, the U.K.’s professional association for songwriters and composers. Past winners include Adele, Stormzy, Little Simz, Cathy Dennis, Annie Lennox, Amy Winehouse, Dave and John Lennon.
This year’s nominations will be announced on Tuesday April 18. The winners will be revealed at The Ivors on Thursday May 18.
The Ivors Academy also announced that Amazon Music is the new title sponsor of The Ivors as part of a multi-year, global deal. Amazon Music will bring music creators to the forefront through exclusive content offerings, as well as live performances, an immersive red carpet and backstage interviews that will be livestreamed on the Amazon Music UK Twitch channel in 2023.
Tom Gray, chair of The Ivors Academy, said, “Globally, songwriters are justly demanding the recognition that they deserve. As we push back against the historic undervaluing of the song and songwriter, we are delighted to collaborate with Amazon Music to celebrate songwriters, explore their craft and firmly place their value and originality at the centre of music. Together, we will make sure that The Ivors is recognised around the world as the most important celebration of songwriting.”
Amazon Music will integrate this year’s Rising Star nominees into their global developing artist program, Breakthrough, which provides long-term, customized global plans for emerging artists. This support includes video and audio content, global marketing, increased visibility across Amazon Music playlists and programming and high-profile Amazon Original tracks available only on Amazon Music.
Tom Winkler, head of songwriter, publisher and society relations for Amazon Music explains, “By globally amplifying the exceptional work of The Ivors Academy, Amazon Music will continue to celebrate songwriters and empower fans to discover the craft behind the music.”
To commemorate Sting’s honor, an unheard, Amazon Original demo of “If It’s Love,” taken from the musician’s most recent studio album, 2021’s The Bridge, is being released exclusively via Amazon Music. This is the seventh installment of the newly-launched demos program, which provides Amazon Music customers with the opportunity to hear demos of artists’ songs. Previous demo releases include songs by Walker Hayes and Maren Morris.
As we reported earlier on Wednesday (Feb. 15), Tim Rice is this year’s recipient of the Johnny Mercer Award, the top honor given by the Songwriters Hall of Fame. Rice joins a long list of Mercer Award recipients which includes Burt Bacharach & Hal David, Paul Simon, Stephen Sondheim, Billy Joel, Stevie Wonder, Smokey Robinson, Dolly Parton and Neil Diamond.
Mercer died in 1976, so you can be excused if you don’t know all that much about him. Mercer was a top lyricist of the Great American Songbook era, but his creative peak extended beyond that era. He won back-to-back Oscars in 1962-63 for co-writing “Moon River” and “Days of Wine and Roses.” Henry Mancini, who composed both of those hits, saluted Mercer with a memorable line from “Moon River” when they won for “Days of Wine and Roses,” saying “and my huckleberry friend, Johnny Mercer.”
Mercer’s other most famous songs include “Hooray for Hollywood” (a perennial on the Oscars), “One for My Baby (And One More for the Road)” (a classic saloon song that is one of Frank Sinatra’s signature hits), “Summer Wind” (another Sinatra classic from 1966), “Fools Rush In” (which Rick Nelson revived in 1963), “Dream” (one of the most melancholy ballads of the World War II years), “Ac-Cent-Tchu-Ate-the-Positive” (it appeared recently in M3GAN), “I’m an Old Cowhand (From the Rio Grande)” (Lucy and Ethel sang it on a 1954 episode of I Love Lucy), “That Old Black Magic” (Louis Prima & Keely Smith’s classic version was a winner at the first Grammy Awards) and “I Wanna Be Around” (Tony Bennett’s highest-charting Hot 100 hit).
Here are more Mercer songs you probably know: “Autumn Leaves,” “Blues in the Night,” “Jeepers, Creepers!,” “Come Rain or Come Shine,” “I Remember You,” “Charade,” “Skylark” and “Too Marvelous for Words.”
Scan these 13 Fun Facts and learn more about the man for whom the Songwriters Hall of Fame named their top award.
Tim Rice will be the 2023 recipient of the Johnny Mercer Award at the 52nd annual Songwriters Hall of Fame Induction and Awards Dinner, which is slated for Thursday, June 15, at the Marriott Marquis Hotel in New York City.
Rice, who teamed with Andrew Lloyd Webber to write such classics as Jesus Christ Superstar and Evita, is the first songwriter primarily known for his work in theater to receive this award since Stephen Sondheim in 1999.
Rice is the second EGOT recipient to receive the Johnny Mercer Award – following Alan Menken. The two songwriters shared an Oscar and three Grammys for their work on Aladdin.
He’s the fifth songwriter or songwriting team from the U.K. to receive the honor, following Jule Styne (1993), Phil Collins (2010), Elton John & Bernie Taupin (2013) and Van Morrison (2015).
The Mercer Award, the SHOF’s highest honor, is reserved for a songwriter or songwriting team who has already been inducted in a prior year and whose body of work upholds the standards set by Johnny Mercer, a four-time Oscar-winner.
“I am truly honoured to be chosen to receive the Johnny Mercer Award,” Rice said in a statement. “My induction into the SHOF in 1999 was itself a highlight of my writing career and I never expected to receive any further recognition from the most distinguished gathering of songwriters in the world. So, I am bowled over (a cricketing metaphor) with gratitude. I have attended quite a few SHOF events in the past 25 years and they have always been among the most enjoyable of entertainment world extravaganzas – unpretentious, unpredictable, and spectacular. So, June 15, 2023, is a golden booking in my electronic diary.”
Inductees at this year’s Songwriters Hall of Fame Induction and Awards Dinner are Sade Adu, Glen Ballard, Snoop Dogg, Gloria Estefan, Jeff Lynne, Teddy Riley and Liz Rose. The recipient of a second honorary award, the Hal David Starlight Award, will be announced at a later date.
SHOF Chairman Nile Rodgers said, “Tim Rice is an artisan. He has crafted some of the greatest lyrics and stories in musical history with Jesus Christ Superstar, and his incredible work with Andrew Lloyd Webber being amongst my favorites.”
Rice has won an Emmy, five Grammys, three Oscars and three Tonys. He won an Oscar and three Grammys for his work on Aladdin; two Tonys, a Grammy and an Oscar for Evita and its film adaptation; a Tony and a Grammy for Aida; an Oscar for The Lion King and an Emmy for Jesus Christ Superstar: Live in Concert.
Rice has worked in music, theatre, and films since 1965. In addition to his work with Webber, Rice has worked with such other top composers as Elton John (The Lion King, Aida), Menken (Aladdin, King David, Beauty and the Beast) and Bjorn Ulvaeus and Benny Andersson (Chess). He has also written with Freddie Mercury, Burt Bacharach and Rick Wakeman, among others.
Rice’s recent musical From Here to Eternity returned to London in November 2022. A new Broadway presentation of Chess is set to open in the fall of 2023. In early 2024, a new production of Aida will make its U.K/West End début. Rice is currently writing and presenting a podcast, Get Onto My Cloud, in which he reminisces about his years in music, theater and film.
Diplo’s Mad Decent Publishing has sold its catalog to Olivier Chastan‘s music rights and brand management company Iconoclast, the company announced Tuesday (Feb. 14). Financial details were not disclosed.
Diplo launched Mad Decent with his manager and business partner Kevin Kusatsu as a record label in 2006 before branching into publishing. The deal with Iconoclast includes songs by Mad Decent Publishing songwriters Henry Agincourt Allen (professionally known as King Henry), Philip Meckseper (Jr Blender), Karen Orsted (MØ), Valentino Kahn, Clement & Maxime Picard and Dillon Francis. Songs in the catalog include Major Lazer hits like “Lean On (featuring MØ and DJ Snake),” “Cold Water (featuring Justin Bieber and MØ)” and “Know No Better (featuring Travis Scott, Camila Cabello and Quavo)” as well as Mark Ronson’s “Nothing Breaks Like A Heart (featuring Miley Cyrus).”
Previously the head of Irving Azoff‘s Iconic Artists Group, Chastan founded Iconoclast in 2021 and has been quietly acquiring assets large and small, powered by the heft of institutional backing. In February 2022, the company bought The Band musician Robbie Robertson‘s music publishing, recorded interests and name, image & likeness rights in a deal that Variety valued at worth roughly $25 million.
In a statement, Chastan described the body of work at Mad Decent Publishing as “one of the most exciting and original catalogs where Brazilian Baile Funk and Angolan Kuduro mix with EDM and pop.
“I first became aware of Mad Decent when Kevin Kusatsu and Diplo were working on the first Major Lazer album,” Chastan continued. “The sound was completely different, the songwriting utterly original and fresh-sounding, and the production uniquely creative. Our acquisition of the Mad Decent Publishing catalog illustrates our commitment to preserving and growing culturally significant art of any era including with artists that are shaping contemporary music.”
Representing Iconoclast in the deal were Scott McDowell and Peter Paterno of King, Holmes, Paterno & Soriano. Mad Decent Publishing was represented by Jordan Bromley, Eric Custer and Alex Spring of Manatt, Phelps, & Phillips.
Grammy-nominated producer, songwriter and engineer Marty MARO has signed a co-publishing agreement with Brandon Silverstein Publishing and Patriot Publishing. MARO, born Marty Rod, has written and produced with talents like Selena Gomez, DJ Snake, John Legend, Anitta and Bastille, and his work has been featured in ads, gaming and films, including Meta, Madden 23, Space Jam and others.
MARO’s signing announcement arrives just after Brandon Silverstein Publishing also inked a publishing agreement with producer and songwriter Jasper Harris — best known for songs like “First Class” by Jack Harlow, “Family Ties” by Baby Keem and Kendrick Lamar, and “I Like You” by Post Malone and Doja Cat.
Brandon Silverstein Publishing is the new monicker for S10 Publishing, a company which has signed a number of deals in conjunction with Avex USA, the American branch of Japanese music and entertainment company Avex Group. These partnered deals include Harris as well as “Peaches” writer HARV, Jamaican singer Shenseea, The Kid LAROI collaborator and Internet Money member Cxdy, “Build a Bitch” co-writer David Arkwright, “Stunnin’” producer Declan Hoy, and Travis Scott, Bad Bunny and Future writer/producer KOSA.
For MARO’s signing, the quickly building BSP has partnered with OneRepublic frontman and hitmaker Ryan Tedder’s company Patriot Publishing. Tedder says of the new signing, “Marty’s a beast with an insatiable work ethic. He is an extremely gifted producer and topliner, and I hope to have him part of the family for years to come.”
MARO adds, “I am extremely excited to be joining forces with Ryan and Brandon in this new chapter of my career! They are both two forces of nature in the business and their belief in my vision and musical ability, along with their experience and global reach feels like the perfect combination for me. Together we’ve already achieved some major accomplishments, and I believe the future of my career is in great hands.”
“I’ve been lucky enough to watch Marty work in the studio and I’ve seen how he’s able to help artists create their best work,” says Silverstein, founder and CEO of Brandon Silverstein Publishing. “I’m so thrilled to have him join the family.”
Influence Media has acquired the publisher’s share of a big chunk of the song catalog of Harry Styles collaborator Tyler Johnson. While terms of the deal weren’t disclosed, the acquired catalog includes all songs Johnson co-wrote on Styles’ first two solo albums, as well as tunes recorded by Meghan Trainor, Sam Smith, Maren Morris, Keith Urban, Diplo, Miley Cyrus and John Legend.
According to the ASCAP/BMI SoundView song platform, Johnson is credited with writing or co-writing 197 songs. The 67 songs included in the catalog acquisition cover those he wrote from 2012 through 2020, according to the announcement.
“Influence Media is committed to partnering with the secret weapons behind some of music’s modern classics, and Tyler Johnson is at the top of that list for his work with Harry Styles alone, along with fellow superstars like Sam Smith, Meghan Trainor and Miley Cyrus,” Influence Media partner and founding advisor Rene McLean said in a statement. “We are so proud to represent Tyler’s works and look forward to introducing them to even wider audiences.”
Influence Media, which is partnered with Black Rock and Warner Music Group, previously acquired the master recording catalog of Blake Shelton for his records issued between 2001 and 2019 as well as Future’s song publishing catalog, among other music investments.
“It has been a pleasure working with the trusted team at Influence Media on my song catalog,” Johnson, a Grammy winner and five-time Grammy nominee, said in a statement. “These songs are very important to me and I feel our deal reflects the value of this catalog that I have built over the last 10 years.”
According to Influence Media, it formed the collaboration with Johnson “as part of its investment strategy built on ‘modern evergreens,’ songs and artists with a strong potential for long-term impact on pop culture.”
“Rene and I have been doing business with various clients for a while now, he’s a straight shooter,” said Johnson’s manager Nathaniel Cochrane in a statement about the deal. “It was a pleasure to get this deal over the line together and I look forward to building with Influence.”
Johnson was represented in the deal by Francois Mobasser, Audrey Benoualid and Andrew Paster at Myman Greenspan Fox Rosenberg Mobasser Younger & Light. Influence Media Partners was represented by Lisa Alter, Katie Baron and Jaclyn Felber at Alter, Kendrick & Baron.
The Association of Independent Music Publishers (AIMP) had its first meeting of 2023 on Feb. 2 and invited National Music Publishers’ Association President and CEO, David Israelite, to address the organization. In his wide-ranging presentation, Israelite discussed artificial intelligence, Twitter, “realistic” copyright royalty board reform, and Phonorecords III (the ruling which will set U.S. streaming mechanical rates for the period of 2018-2022), which he said will be resolved “any day now.”
“We are five years and 33 days late of knowing what our rates are and counting,” said Israelite of Phono III, which was intended to be resolved at the start of the period in 2018 but has drug on ever since. In 2018, the NMPA and the Nashville Songwriters Association International (NSAI) had won an increase in the headline rate that songwriters and publishers are paid, but the following year Google, Spotify, Amazon and Pandora all appealed the ruling, hoping to go back to a previous rate they had paid in the period before. This led to indecision at the Copyright Royalty Board until July 1, 2022, when the judges announced a long-awaited determination in the remand proceeding, favoring to uphold what headline rate publishers and songwriters had asked for in 2018 but also providing other concessions to the streaming services, but the announcement was not the end of the road for Phono III. A true final determination still has yet to be announced.
“This is the definition of a broken process,” Israelite told the crowd of independent publishers. “This is why our top legislative priority for this next Congress is going to be reforming the way that the CRB works.” A number of independent voices in the songwriting and publishing community have voiced differing opinions regarding how to reform the CRB, how rates should be set, and who should get a seat at the negotiating table, as evidenced in their comments to the board during the proceedings of Phono IV. “CRB reform will only happen if all the parties come together and agree on what to do,” Israelite said. “When I talk about CRB reform, I’m going to talk about it in terms of what is possible, not in terms of what is utopia. There’s a lot we would change if we could [but some of] that is not happening.”
“Instead, we’re focused on two things: First, this process should encourage settlements. The goal of this process is to avoid going to court and working thing out like we have. Second part is that if you have to go to trial, if the settlement fails, then that process should work. When we have to wait more than five years to know what our rates have been, it doesn’t work,” he said. He also requested more resources for the Copyright Royalty Board’s judges.
In Congress, Israelite noted that Rep. Jim Jordan (R-Ohio), who is the chair of the judiciary committee, does not have a history of dealing with music issues. So, he suggested, “We have to bring [the House] what is close to a finished product with consensus from the industry if there is any chance at passing CRB reform.”
Moving on to his “top legal focus” for the NMPA this year, Israelite called out Twitter for “hiding behind the DMCA [Digital Millennium Copyright Act].” He said, “Twitter is the last major social media company that does not license and pay songwriters.” Since December 2021, the NMPA has been tracking infringements on the platform and systematically sending Twitter takedown notices. Since then, Israelite noted the NMPA has found over 240,000 unique infringements on Twitter. If Twitter does not take appropriate action to take down infringing material and safeguard against future infringements, Israelite said, “they could lose their safe harbor. What does it mean to lose your safe harbor? It means we now can sue you for copyright infringement.”
He then pivoted to discuss artificial intelligence and how it might affect songwriters. There are two main categories of concerns for Israelite when considering AI: inputs and outputs. For inputs, he is concerned that copyright-protected songs could be used as training data, and for outputs, there is worry that AI generators could create derivative works or compete with human made music. “This threatens the entire music economy,” he said. “I think that is pretty clear.”
“We have absolutely no time or attention for a debate about whether this is good or bad about whether it can be stopped or not about whether the music industry likes this or doesn’t like this, that is irrelevant,” he said. “Go back over time over every new technological development, generally, we later figure out how to live with it and make it work for us. Let’s do it now on the front end. Let’s not wait 10 years, and then figure out what to do about this.”
He suggested there are a few ways to safeguard music publishing and songwriters from oncoming AI technology. First, he said the NMPA educates lawmakers about AI’s threats to the music business. “There will likely not be legislation on this for some time,” he explained. Israelite also noted that they will be watching the legal space as court cases resolve certain questions regarding AI, but admitted, “We are not in a position today to even think about bringing legal action against any of these technologies.”
“Market response, to me, is the one that is the most relevant,” he said, considering out loud potential scenarios for the publishers in the room, like, AI generated or assisted songs coming on to streaming services and drawing attention and royalties away from the publishers’ catalogs of human-made music. He also said that some AI could be used as a songwriting tool not too dissimilar to other music creation tools of the past. “We’re only just now beginning to scratch the surface,” he said of what this technology is capable of changing within the business.
“I don’t have many answers for you today, other than what I’m hoping is that as an industry, we approach these AI issues with the mindset of this is not necessarily bad. It doesn’t matter anyway, because we’re not going to control it,” he said. “Instead, what are the opportunities? And how do we engage with it in a productive way, so we don’t look back and say, ‘It took us 20 years to figure out how to deal with AI like we did with digital music’?”
MusicBird AG, a Swiss-based music rights investment firm, has signed a term loan facility with a capacity up to $100 million with Mitsubishi UFJ Financial Group (MUFG). With publishing rights from hitmaker J.R. Rotem (Rihanna, Jason Derulo, Fall Out Boy) and master income and publishing rights from Shaggy already part of their acquired catalog, the firm is hoping to invest even further in music.
Founded in 2020, MusicBird began acquiring music rights in 2021. The company is focused on becoming a “boutique house of hits,” as described in their announcement, with a highly selective portfolio of “evergreen” songs. The firm notes it is open to all types of genres and regions when considering new catalogs and hopes to harness technology to help grow music revenue.
In addition to this new push into growing their catalog, MusicBird also recently appointed a new CEO, Paul Brown — who previously served as vp global content and platforms for HTC and svp strategic partnerships at Spotify — as well as a new CFO, Roger Howl — who previously worked as senior vp of finance at Hipgnosis Songs Fund.
This announcement comes shortly after a number of key catalog deals have been announced, including Opus Music Group’s 9-figure acquisition of Juice WRLD’s catalog and Hipgnosis’ acquisitions of parts of Tobias Jesso Jr. and Justin Bieber’s catalogs. Meanwhile, Variety is reporting a possible upcoming sale for Michael Jackson’s estate. Though last year some were predicting a slowdown in the catalog market, it appears there are still many players continuing to invest in music IP, despite an economic downturn, rising interest rates and other extenuating circumstances affecting the global economy.
Tony Beaudoin, managing director of entertainment finance at MUFG says: “MUFG is thrilled to lead the senior debt facility for MusicBird, which will allow the company to expand its catalog acquisition initiative of valued music rights. Paul and Roger bring trusted experience in the music space to the company and MUFG is confident in their ability to grow MusicBird’s IP library.”