Common Music Group head Lucian Grainge. Picture Credit score: UMG
Time to kick IP monetization up a notch? Common Music Group and Patrick Whitesell’s WTSL have formally launched a three way partnership designed to unlock “new business pathways.”
The main and the Silver Lake-backed funding agency unveiled that JV right now, with plans in place to spearhead development “exterior conventional recorded music and music publishing.” Although time will inform precisely what this entails, the businesses intend to zero in on movie, TV, trend, client merchandise, manufacturers, and extra.
Hardly confined to once-off initiatives, the multifaceted efforts will prioritize “owned, repeatable, and equity-driven ventures rooted in inventive identification,” the concerned events spelled out.
The identical events additionally touched on the attain of the foremost’s present roster and catalog. Not expressly talked about within the announcement, nonetheless, are the sizable sums that UMG and various others have dropped on music IP in recent times.
For sure, these patrons are desirous to recoup their investments. And to place it mildly, right now’s diversification push seems comparatively well-positioned to gas recent income streams and improve the underlying music’s worth with out alienating diehard supporters.
“That is about constructing the way forward for artist IP with the size and ambition it deserves,” added the WME co-founder Whitesell. “Common Music Group represents probably the most highly effective assortment of music and artists anyplace on this planet. Collectively, we’ll discover new methods to increase that cultural drive into each dimension of leisure and client life—creating lasting enterprise worth whereas preserving music on the middle.”
In remarks of his personal, Common Music head Lucian Grainge – whose firm beforehand partnered with Genuine Manufacturers Group – touted the tie-up’s perceived monetization potential.
“We exist on the middle of a vibrant ecosystem of companions from the worlds of know-how, manufacturers, retailers and media who acknowledge the ability of our artists to form tradition globally,” weighed in Grainge.
“With this new enterprise we can leverage Patrick’s deep expertise in efficiently creating non-traditional enterprise fashions with world-class IP to speed up the growth and monetization of our ecosystem to the good thing about our artists and companions,” he proceeded.
The Monetary Occasions stopped wanting attaching a agency valuation to the settlement – whereas highlighting Grainge’s purpose of replicating initiatives equivalent to ABBA Voyage.
On this entrance, Common Music actually isn’t alone in working to chart non-streaming monetization paths.
Seeking to construct on ABBA Voyage’s success, Pophouse Leisure is teeing up a KISS avatar band – and, in coordination with the aforementioned Genuine Manufacturers Group, presumably totally different hologram experiences but.
In the meantime, Main Wave, which has scooped up NIL rights in lots of its IP investments, is likewise pulling out all of the monetization stops. Simply in passing, these strikes embody Whitney Houston slot machines, a Bob Marley immersive expertise in Vegas, and even a rumored Infamous B.I.G. Broadway manufacturing.
