Stockholm-dependent NoNoNo, which inked a catalog deal with MusicBird in 2021. Photo Credit history: Akam1k3
Swiss catalog-financial investment firm MusicBird has announced that it’s secured a $100 million mortgage to bankroll additional track-legal rights acquisitions.
MusicBird unveiled the “up to $100 million” term mortgage facility (supplied by Tokyo’s Mitsubishi UFJ Economic Group) by way of a official release nowadays. Launched in 2020, the Wollerau, Schwyz-headquartered enterprise named Paul Brown (formerly with Pandora, Spotify, and Sony Audio) CEO in direction of 2021’s stop.
And predictably, presented this recently in-depth financing, MusicBird – which claims that it employs “a facts-driven, agile tactic to investing” – intends “to scale its tunes rights portfolio in the coming months.”
At current, the “highly selective” entity’s holdings contain the publishing catalog of Rihanna and Weezer songwriter J.R. Rotem as very well as equally the master income and publishing rights of “It Wasn’t Me” artist Shaggy. Also, June of 2021 noticed MusicBird wrap a deal for the catalog of NoNoNo, the act behind the significantly-streamed “Pumpin Blood.”
Although MusicBird higher-ups (which includes CFO Roger Howl, previously an exec with Sony Audio and Hipgnosis) have not lose light-weight on the precise catalogs that they intend to go after following, Brown indicated that his business will zero in on “iconic tracks which have stood the test of time.”
“We are delighted to be performing carefully with the MUFG staff as we expand our organization and continue on to go after our technique of acquiring diverse music rights in collaboration with amazingly gifted songwriters, artists and companions throughout the market,” communicated the former Walt Disney Business and HTC exec Brown. “Our team is passionate about constructing a selection of iconic tracks which have stood the test of time and continue to delight admirers.”
MusicBird’s $100 million funding announcement arrives as a number of significant-profile catalog profits are closing – with evidence suggesting that negotiations are underway for what could be the premier song-rights transaction to day.
Plus, on top rated of the lots of catalog bargains that have appear to fruition across 2023’s initial five or so weeks, gamers like Shamrock Money, Concord, Domain Cash, Most important Wave (which scored a $2 billion Brookfield investment decision final October), and Litmus New music have publicly touched on options to inject extra money nevertheless into the area. Meanwhile, JKBX disclosed 3 days back that it had acquired $1.7 billion really worth of tunes legal rights – a determine which is expected to mature to $4 billion by 2023’s conclude.
Yesterday, Hipgnosis Tune Management unveiled a offer for the legal rights to “around 40 songs” written by Tobias Jesso Jr., whereas Reservoir, Exceleration, and Seeker Tunes are among the the corporations that acquired audio IP in January.
