Now John Legend offers: BMG and KKR purchase brochure from All Of Me hitmaker
Music’s most current huge brochure sale has actually been verified: United States songwriter and entertainer, John Legend, has actually offered his songwriting brochure for a concealed charge to BMG [725 articles]” > BMG and KKR [54 articles]” > KKR.
Interestingly, it appears that the Legend sale to KKR and BMG was completed prior to the 2 business collectively got a brochure from ZZ Top.
In December, that ZZ Top acquisition ended up being the very first formally revealed joint acquisition from the duo of companies.
According to a United States regulative filing seen by Bloomberg, KKR (by means of affiliate DL Music IP) and BMG have each bought a 50% stake in Legend’s songwriting brochure for product composed from late 2004 through to early 2021.
That duration would consist of music from Legend’s well-known 2004 launching album, Get Lifted, through to hits like All Of Me(2013)– an international smash which has more than 1.6 billion plays on Spotify [2,663 articles]” > Spotify to date.
The BMG/KKR deal, according to the filing, was carried out in September in 2015.
The John Legend acquisition is especially intriguing in the context of acquisitive music rightsholders taking bets on ‘shallow brochure’ instead of ‘deep brochure’.
John Legend’s hits have actually been launched in the past 15-20 years (‘ shallow brochure’). This remains in contrast to songwriters who have actually just recently offered brochures with hits dating much even more back, into the 1960 s and 1970 s (‘ deep brochure’).
Such songwriters have actually consisted of Bob Dylan (who offered his tune brochure to Universal Music Group [2,520 articles]” > Universal Music Group for around $350 million in late 2020), Paul Simon (who offered his brochure for a nine-figure charge to Sony Music Group [153 articles]” > Sony Music Group in early 2021), Neil Young (who offered 50% of his tune brochure to Hipgnosis Songs Fund [194 articles]” > Hipgnosis in early 2021 for around $150 million), Bruce Springsteen (who offered both his master rights and tune rights to Sony Music Group for a combined ≈$550 million in late 2021), and David Bowie (whose estate offered his career-spanning tune rights to Warner Music Group [1,912 articles]” > Warner Music Group for around $250 million, as validated previously today).
BMG has actually dealt with John Legend given that the Bertelsmann [116 articles]” > Bertelsmann-owned business got the artist’s music publisher, Cherry Lane Music Publishing, in 2010.
Legend is handled by Ty Stiklorius at Friends At Work, and is represented on business management side by David Levin.
KKR revealed its acquisitive alliance with BMG in March in 2015.
KKR informed MBW at the time that the 2 companies had actually collectively dedicated a minimum of a billion dollars to purchase music brochures in the worldwide market.
Since then, KKR has actually released Chord Music– its own acquisitive music fund– which it utilized to obtain a portfolio of tune rights from Kobalt Music Group [543 articles]” > Kobalt for $1.1 billion in October.
One of KKR’s long time music-focused Partners, Nat Zilkha, just recently left the financial investment company to release his own as-yet-unannounced brand-new endeavor in the music organization.
In 2013, KKR offered a 51% stake in BMG for around a billion dollars to the music business’s now-sole-parent, Bertelsmann. Music Business Worldwide