The global majors are as hungry to snap up interesting catalogues as investment firms are, but they can’t do it all alone. Hence partnerships between the two sectors, with Sony Music’s tie-up with GIC the latest.
GIC is one of the official sovereign wealth funds of Singapore, originally set up by its government to manage its foreign reserves. It’s forming a new ‘capital vehicle’ with Sony Music to invest in “high-quality, marquee music catalogue assets”.
Which ones? That remains to be seen, with the companies only saying that they are casting their net “across a range of genres”, with Sony’s role being to “support the identification, acquisition and management of potential assets”.
In other music-financing-partnerships news today, Primary Wave Music has made a strategic investment in Run, a company that provides financing to artists, labels and rightsholders – including full-catalogue acquisitions.
Primary Wave said that the deal will boost its own acquisitive ambitions because Run’s tech “enhances deal selectivity, improves forecast accuracy, and complements its broader investment and acquisition strategy”.
