Business Frame Weekly – Village People’s Song Catalog, Brand Acquired / Sony Music Sues Whitney Houston Biopic Producers

Village People’s Song Catalog, Brand Acquired by Primary Wave Music

Sony Music Sues Whitney Houston Biopic Producers for Reneging on Sync License Payments

Mechanical Licensing Collective Files Suit Against Pandora Over Unpaid Mechanical Royalties

In this newsletter:

• Iconic Artists Group has secured a strategic investment from HPS Investment Partners (HPS)
• Duetti Closes $90 Million Funding Round to Expand Acquisition & Monetization of Independent Artists’ Music Catalogs
• Village People’s Song Catalog, Brand Acquired by Primary Wave Music
• Sony Music Sues Whitney Houston Biopic Producers for Reneging on Sync License Payments
• Kobalt has launched what it calls the ‘next-generation’ of its Client Portal for its publishing clients
• Mechanical Licensing Collective Files Suit Against Pandora Over Unpaid Mechanical Royalties

February 20, 2024

Iconic Artists Group has secured a strategic investment from HPS Investment Partners (HPS)

Irving Azoff’s Iconic Artists Group has secured a strategic investment from HPS Investment Partners (HPS), an investment firm with $107 billion in assets under management. The investment from HPS, together with senior debt financing from third parties, provides Iconic with access to $1 billion of capital. With HPS’ support, Iconic will further solidify its position as the trusted partner of choice for artists and their estates seeking to maximize the value of their portfolios and ensure their music continues to inspire and resonate with audiences for generations to come.

Duetti Closes $90 Million Funding Round to Expand Acquisition & Monetization of Independent Artists’ Music Catalogs

Music financing platform Duetti has announced a $90 million new funding raise to help monetize independent artists’ music catalogs. Here’s the latest. The new funding includes $15 million of new equity, alongside a new $75 million credit facility. The equity financing is led by Nyca Partners, Viola Ventures, and Cohen Circle. The $75 million credit facility is provided by Northleaf Capital Partners. Duetti says this latest funding round underscores its ability to acquire catalog tracks at scale.

Village People’s Song Catalog, Brand Acquired by Primary Wave Music

Primary Wave Music has announced a partnership with the heirs of a producer behind the legendary dance-music group the Village People that involves a stake in the outfit’s brand, master recordings and publishing assets. Songs included in the partnership are such dancefloor icons as “Y.M.C.A.,” “Macho Man,” “In the Navy,” “Go West” and more. Full terms of the deal were not disclosed. Jonathan and Anthony Belolo, sons of original producer Henri Belolo, said, “As we were picking up the mantle following our father’s passing in 2019, we soon realized that – to achieve his dreams of bringing the Village People ideal into the 21st century the right way is a very bold endeavor. Our partnership with the amazing team at Primary Wave now brings us the backup and expertise that will ensure we can rise to the task together. With multiple projects in development, the future looks bright as ever for the Village People!”

Sony Music Sues Whitney Houston Biopic Producers for Reneging on Sync License Payments

Sony Music sues the producers of a Whitney Houston biopic, claiming the companies never paid for the use of her music. Sony Music Entertainment (SME) is suing the producers of the 2022 Whitney Houston biopic, Whitney Houston: I Wanna Dance with Somebody, alleging that although they signed a sync licensing deal, the companies failed to pay for the use of 20-plus of Houston’s songs that appear in the film. As a result, Sony calls the use of the songs in the film “willful and deliberate infringement” of its copyrights.

Kobalt has launched what it calls the ‘next-generation’ of its Client Portal for its publishing clients

Kobalt has launched what it calls the ‘next-generation’ of its Client Portal for its publishing clients, which offers insights and payment details across desktop, mobile, and tablet. In addition to real-time royalty payments, song-specific performance insights, and live sync updates, the new portal includes a tool the company claims is “an industry first across the royalty processing journey”.

Mechanical Licensing Collective Files Suit Against Pandora Over Unpaid Mechanical Royalties

The Mechanical Licensing Collective is suing Pandora for allegedly failing to pay the mechanical royalties required to continue functioning as a consumer streaming platform. The Mechanical Licensing Collective (MLC) has filed a lawsuit against Pandora Media, LLC (Pandora) over allegedly unpaid blanket royalties that are due under the compulsory mechanical license that Pandora obtained in order to function as a consumer music streaming platform.

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