Warner Music Group has unveiled a brand new $1.2 billion three way partnership with funding agency Bain Capital, the 2 firms introduced Tuesday, with the businesses concentrating on iconic recording and music publishing catalogs.
WMG and Bain Capital will establish potential catalog acquisitions collectively, the businesses stated, with WMG dealing with advertising and marketing, distribution, and administration.
“Iconic artists and songwriters select WMG to develop their legacies and introduce their artwork to new generations via impactful and progressive campaigns,” WMG CEO Robert Kyncl, stated in a press release. “Augmenting our deep experience and world infrastructure with Bain Capital’s monetary prowess and perception in music will make us the vacation spot of alternative for preeminent catalogs.”
The brand new three way partnership is simply the most recent transfer in a catalog acquisition market that had grown more and more aggressive over the previous a number of years. Again in April, the Common Music Group-backed Chord Music Companions acquired a minority stake in nation celebrity Morgan Wallen’s recorded catalog from his file label Huge Loud. Final month Sony Music Publishing purchased publishing firm Hipgnosis Songs Group. WMG has been lively within the house too, shopping for a controlling stake in Tempo Music Investments again in February after co-launching the corporate again in 2019. Since Launch, Tempo had acquired rights to songs recorded by Bruno Mars, Twenty One Pilots and Adele amongst others.
Goldman Sachs and Fifth Third Financial institution are serving as lead arrangers for the brand new three way partnership, WMG and Bain Capital stated.
“Timeless music content material continues to sit down on the heart of client leisure,” Bain Capital accomplice Angelo Rufino stated in a press release. “Stewardship of catalogs has by no means been extra vital as artists and songwriters deserve help to reinforce the worth of their work whereas delivering followers new and thrilling collaborations. Warner Music Group, with its deep artistic assets and partnership tradition, is the perfect accomplice for Bain Capital to work alongside as we develop and safeguard the world’s iconic music.”