indie music publisher goes for 150 mn in latest deal
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Indie music publisher goes for $150 mn in latest deal

Arab Today, arab today

Arab Today, arab today Indie music publisher goes for $150 mn in latest deal

It controls recent mega-hits such as Lorde's "Royals
New York - Arab Today

Songs Music Publishing, which holds copyrights to music by stars such as Lorde and Pharrell Williams, announced its sale Friday in the latest consolidation in the fast-growing industry.

The leading independent music publisher said it had agreed after months of bidding to sell its catalog to Kobalt, which already administers songs by legends such as Miles Davis and Bob Marley.

The two companies did not announce financial terms but a person with knowledge of the deal said it was worth around $150 million.

Songs was formed in 2004 and has emerged as a competitor to the major publishers -- Sony/ATV, Universal Music Publishing and Warner/Chappell.

It controls recent mega-hits such as Lorde's "Royals," The Weeknd's "Can't Feel My Face" and Mark Ronson's "Uptown Funk."

"Songs is a truly independent company -- 100 percent owned and operated by us since its inception," Songs founder and CEO Matt Pincus said in a statement.

"After many years of hard work and personal investment in the company, we decided that it was time for us to look for new horizons," he said.

Music publishers hold copyrights and distribute royalties back to songwriters when their work is played. Performers are compensated separately.

With the rise of streaming providing solid new revenue sources, the value of song copyrights has been soaring -- even if songwriters do not always see as much of the money as they would like.

Royalties for writers of music, television, film and other content jumped to a record 9.2 million euros ($10.9 million) last year, according to creators' global body CISAC.

Eying the growing market, Kobalt last month announced it had raised $600 million to buy music copyright through investors led by Railpen, the pension fund for Britain's railway workers.

Kobalt has grown through a unique model in which it mostly administers copyrights without fully owning them, letting artists keep control.

The deal comes near the end of a year in which Concord Bicycle Music spent a reported $500 million to buy Imagem, which controls rights for leading Broadway and classical composers, and Round Hill bought Carlin America, the publisher of Elvis Presley.

Source:AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

indie music publisher goes for 150 mn in latest deal indie music publisher goes for 150 mn in latest deal

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

indie music publisher goes for 150 mn in latest deal indie music publisher goes for 150 mn in latest deal

 



GMT 12:11 2017 Thursday ,27 July

Tony Baroud to present new TV show

GMT 23:00 2017 Monday ,16 October

Egypt FM to head for Slovenia on Monday

GMT 20:06 2017 Friday ,20 January

Daesh in new demolitions at Syria’s Palmyra

GMT 21:06 2017 Friday ,24 November

Marriyum condemns Hayatabad terrorists attack

GMT 01:00 2017 Saturday ,25 November

Cabinet Affairs Minister Meets Indonesian Ambassador

GMT 02:34 2018 Thursday ,04 January

Merger creates state-owned gas giant

GMT 10:08 2017 Tuesday ,07 March

Geneva farce: The regime is the opposition

GMT 10:19 2017 Saturday ,18 November

AJK Prime Minister condemns across LoC shelling

GMT 11:34 2017 Wednesday ,22 March

33 Syrians killed in Air raid on Raqqa’s school

GMT 11:03 2017 Wednesday ,01 March

Asala declares her solidarity with George Wassouf

GMT 17:57 2017 Wednesday ,11 October

Mideast nations turn to private sector

GMT 14:11 2016 Wednesday ,30 November

Tunisia wins billion-dollar pledges to boost economy

GMT 23:41 2017 Tuesday ,26 September

Qatar laborer ‘sacked’ after speaking to UN team

GMT 04:28 2017 Tuesday ,21 March

Enrique Iglesias to headline Bahrain F1
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday