Lower than two weeks after saying its virtually half-billion-dollar buy of Spherical Hill Music’s publicly traded track fund, Harmony has acquired Mojo Music & Media.
Harmony emailed Digital Music Information this morning about its deal for Brentwood, Tennessee-based Mojo Music & Media, which is claimed to own an roughly 30,000-song publishing catalog. Based in 2018 by Mark Fried (who additionally based Spirit Music Group), Peter Shane (beforehand Spirit’s SVP of inventive), and Alan Wallis (who doubles as COO), Mojo itself has closed various noteworthy performs in recent times.
In March, for example, the five-year-old operation purchased a “trove of traditional catalogs,” together with the music IP of Duran Duran’s Warren Cuccurullo. Crestline Buyers-backed Mojo additionally possesses pursuits within the work of Low-cost Trick’s Rick Nielsen, Earth, Wind & Hearth vet Al McKay, Nashville Songwriters Corridor of Fame inductee Bob Morrison, and Taylor Swift producer Jacknife Lee, to call just a few.
Whereas the concerned events somewhat predictably opted towards disclosing the (undoubtedly sizable) price ticket related to the transaction, they did point out that the deal encompasses the whole thing of Mojo. Addressing the settlement, Mojo co-founder and CEO Mark Fried emphasised his longstanding skilled ties to and shared aims with a number of Harmony higher-ups.
“My practically 30-year journey in music publishing has at all times been about surrounding myself with the best songwriters, getting them paid, retaining them impressed, and elevating the ability of their songs in popular culture so that they vibrate ceaselessly,” Fried communicated partly.
“I really feel a deep duty to the artists, songs, and legacies we signify and I’m excited to see them proceed to prosper within the palms of such succesful and passionate caretakers,” he concluded.
And in remarks of his personal, Harmony chief enterprise improvement officer Steve Salm relayed partly: “Mark Fried is a real authentic who’s repeatedly seen the worth in songs and catalogs nicely earlier than market traits, at all times placing songwriters first. … The Mojo catalog is an ideal match with Harmony’s catalogs, and we’re honored by the belief they’ve now put in us.”
Between the newly detailed Mojo buyout, Harmony’s aforementioned $469 million deal for Spherical Hill’s track fund, Litmus Music’s reportedly $225 million acquisition of Katy Perry’s catalog, and Hipgnosis Songs Fund’s proposed sale of 29 catalogs for $440 million, the previous two weeks seem to have delivered nicely over $1 billion in introduced catalog transactions.
Driving the sum larger but, BlackRock- and Warner Music-powered Affect Media Companions revealed as we speak that it’d invested within the greater than 160-work catalog of “Filth on My Boots” songwriter Jesse Frasure.