Last summer, music industry veterans Hank Forsyth and Dan McCarroll teamed up with Carlyle Global Credit to launch a venture called Litmus Music.
New York-based Litmus said that it would focus on acquiring and managing both publishing and recorded music rights, with Carlyle Global Credit committing an initial $500 million to do so.
The first deal arrived in December in the form of Keith Urban’s master recordings catalog, including ten multi-platinum, platinum or gold-certified studio albums and a greatest hits compilation.
On Wednesday (June 28), Litmus announced that it has acquired a “portfolio of compositions” from songwriter and producer Benny Blanco, covering what it says are “numerous multi-platinum hits and hundreds of songs”.
The company tells MBW that it is acquiring “a portfolio of rights including music publishing copyrights and, for select songs, writers share of performance”.
Blanco’s catalog of work spans his roles as a songwriter, producer, recording artist, music publisher and record label founder.
It includes 30 No.1 Billboard singles and 11 Grammy nominations for Song of the Year, Album of the Year, Best R&B Song, and Producer of the Year.
According to the announcement, Carlyle Global Credit has invested capital for this transaction from its Credit Opportunities strategy, which, it says, has deployed $2.2 billion in and around the media and entertainment space since 2018.
Terms of the deal with Blanco were not disclosed
According to Litmus, this acquisition includes a list of multi-platinum songs and hits such as: Eastside recorded by benny blanco, Halsey & Khalid, Roses recorded by benny blanco & Juice WRLD featuring Brendon Urie, Señorita recorded by Shawn Mendes and Camilla Cabello, Moves Like Jagger recorded by Maroon 5, Love Yourself recorded by Justin Bieber, Diamonds recorded by Rihanna, Die for You by the Weeknd and re-released featuring Arianna Grande, Now or Never recorded by Halsey, and Rockabye recorded by Clean Bandit featuring Ann-Marie and Sean Paul.
Litmus says the partnership was fostered by Blanco’s long-standing relationship with Litmus’ Dan McCarroll, who first worked together at EMI Music Publishing more than a decade ago. The two have collaborated on a number of projects over the years.
“There’s no better home I could imagine for such a meaningful part of my catalog.”
“I first crossed paths with Dan as a young teenager,” said Blanco.
“I feel like we’ve had so many dinners and conversations that have gone beyond music and they really helped guide and shape me into the person I am today. There’s no better home I could imagine for such a meaningful part of my catalog.”
“We at Litmus are honored to work with him now to support part of his incredible catalog.”
Dan McCarroll, Litmus
Dan McCarroll, Litmus Co-Founder and Chief Creative Officer, added: “I’ve had the pleasure of knowing Benny since he was seventeen years old.
“It’s been a joy working with him over the years and watching him become the incredible writer and producer he is today. We at Litmus are honored to work with him now to support part of his incredible catalog.”
“The entire Litmus team is thrilled to see Dan and benny together again and we are all so grateful to care for these songs that continue to drive pop culture around the globe.”
Hank Forsyth, Litmus
Litmus Co-Founder and CEO, Hank Forsyth said: “Benny is one of the most trusted and prolific creative forces in music today.
“The entire Litmus team is thrilled to see Dan and Benny together again and we are all so grateful to care for these songs that continue to drive pop culture around the globe.”
The company acquired 100% of Blanco’s copyright ownership in the catalog of songs, which comprised 93 compositions, all of which had been released since 2015.
Music Business Worldwide