“Primary Wave bridges the legacy to keep it moving and relevant,” says The NFT sold for $1 million in December, raising money for the Whitney E. Cosmetics, and assisted in the sale of a nonfungible token of an unreleased recording the singer made when she was 17. Lawrence Mestel, CEO of Primary Wave Music.įor the Houston family, Primary Wave so far has acted as a producer on I Wanna Dance, guided creation of a Whitney Houston collection of M.A.C. “There’s all these different approaches to improving catalogs and reintroducing them to people who are already fans in new ways and to a whole new generation who never heard the music before,” says Bogart, who’s penned songs for Beyoncé and Rihanna. The record-label share of paid streaming became an approximately $12 billion market last year, up from about $2 billion in 2015, Goldman said, citing data from London industry group IFPI.Ĭatalog acquirers are also driven by the promise of boosting revenue for songs by pairing them with advertising or film-known as “sync” deals-or by using songs in newer media, saysĪn award-winning songwriter and founder of Seeker Music. īuyers have been driving these sales because of the rise of paid music streaming, which makes it easier for consumers to discover songs and for investors to analyze past and future trends, including cash flows, Goldman said. Tax considerations have been another motivator for U.S. Musicians and songwriters have been motivated to sell rights to future cash flows from their work in response to losing tour income during the pandemic, Goldman said. As of May, an additional $700 million in deals were struck, according to an industry report by Goldman Sachs Group released in June. Music giants Universal Music Group, Sony Group, and Warner Music Group, among other labels and publishers, also are buyers.Ĭatalog deals confirmed by London-based MIDiA Research totaled $5.3 billion in 2021, up from less than $370 million in 2019. Several music companies and specialist investment firms, including Hipgnosis Songs Fund, Round Hill Music, and Lyric Capital Group, and newer additions Seeker Music and HarbourView Equity Partners, have been scooping up music rights from the likes ofĪnd Shakira at a fast clip over the past three years. Not everybody can turn $1 of revenue into $3-that’s what differentiates us,” Mestel says.
The company’s goal is to boost revenue for these artists, including for songs that long ago topped the charts. In return for the cash flow, Primary Wave is acting as a manager, publicity representative, and brand builder for the “icons and legends” it represents-such as the late musiciansĪnd Prince, and living acts Smokey Robinson,
0 kommentar(er)
