John Legend Sells His Music Catalog to KKR, BMG

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Amid a rush to make year-end transactions, the firms struck a deal last fall for the publication of the R&B kronor, according to regulatory filings.

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The R&B crooner sold his publishing copyrights and the rights to receive royalties from music he wrote from 2004 to early 2021. BMG Rights Management and KKR bought 50% stake in the catalogue. BMG, which has been managing Mr Legend’s work since purchasing Cherry Lane Music Publishing in 2010, also struck a deal to administer his future creations, according to a person familiar with the matter. BMG, both a record label and publisher, is a subsidiary of Bertelsmann SE of Germany.

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One consequence of KKR and BMG’s investments in Mr Legend’s work so far is that their future releases and tours are likely to generate the continued attention and streaming of their catalogues. The deal includes Mr Legend’s acclaimed 2004 debut album “Get Lifted” as well as hits such as “All of Me” and “Love Me Now”.

KKR teamed up with BMG to spend at least $1 billion on music copyrights last March. The commitment came amid a broad move into music last year for KKR, which last January raised $200 million for a majority stake in Ryan Tedder’s hit list including songs from Beyoncé, Adele, Stevie Wonder and Mr Tedder’s band, OneRepublic. done deal. (Mr. Tedder, now 42, was another relatively young entrant into the market.) In October, KKR spent $1.1 billion on investment advisory firm Cobalt Capital Ltd’s KMR Music Royalty II portfolio, which included more than 62,000 copyrights. Huh. music genres.

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According to people familiar with the deal, KKR and BMG last month invested in Texas blues-rock trio ZZ Top’s publishing catalog and music royalties worth about $50 million.

Due to low interest rates and tax incentives, along with strong demand from older publishing organizations and financial players alike, an onslaught of artists are striking deals for their music rights including Stevie Nicks, Bob Dylan, Neil Young and Bruce Springsteen. Is.

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