Concord Bicycle Music is one of the most talked about – and aggressively acquisitive – businesses in the entertainment industry right now.
Last month, MBW revealed that the Los Angeles-based company had snapped up publishing group Imagem in a landmark deal with a $500m+ pricetag.
And guess what? It’s been at it again.
Sources in the independent community have told MBW that Concord has, in the past few weeks, fully acquired a bundle of recorded music rights as part of Warner’s post-Parlophone divestment process.
These recordings include the Atlantic catalogue of US Grammy-winning singer/songwriter Jewel, which covers her first five studio albums.
Jewel’s debut LP, Pieces Of You (1995), went 12-times platinum in the US market. Her follow-up, Spirit (1998), went four-times platinum.
Other catalogues in Concord’s Warner deal, we’re told, include albums by Brazilian legend Sergio Mendes, and various classic blues and jazz recordings.
The repertoire was purchased by Concord in a multi-million dollar agreement believed to amount to a seven-figure sum.
These purchases add to a swelling catalogue at Concord – which is backed by a group including Barings Alternative Investments, Sound Investors, and seventy institutional and individual partners.
In addition, it’s bought the likes of Americana/folk/blues specialist HighTone Records and the recorded music assets of Bandit Records – while securing major artist licensing deals with R.E.M and others.
Warner Music Group agreed to hand over $200m+ in recorded music assets to the independent community back in 2013 as a condition of its buyout of Parlophone Label Group.
Last month, MBW revealed that the process was picking up pace, with divestment-related acquisitions being made by Domino (The Buzzcocks, Hot Chip), Because Music (London Records) and Epitaph (Tom Waits).
We’re told that the entire Merlin/IMPALA-officiated process could be complete by the end of 2017, with an optimistic deadline penciled in for the end of Q3.Music Business Worldwide