Canada-headquartered Kilometre Music Group, via its Barometer Global Music Royalty Fund, says that it has acquired the publishing catalog of American record producer Cardo (Ronald Latour Jr.).
The deal expands Kilometre’s catalog to what the company says is over 3,000 songs. Nine of these are among the 20 most-streamed songs on Spotify of all time, according to Kilometre, featuring artists like The Weeknd, Post Malone, Drake, Dua Lipa, Chainsmokers, Halsey and Travis Scott.
Kilometre has confirmed that its latest deal brings its total investments in music rights close to USD $150 million.
Kilometre says that its latest acquisition covers about 350 songs, including several hits like Drake‘s Billboard Hot 100 No.1 single God’s Plan, along with other Drake tracks such as Wants and Needs featuring Lil Baby and Laugh Now Cry Later featuring Lil Durk.
The deal also includes Travis Scott‘s 2016 hit Goosebumps, which has amassed over 3.3 billion streams on Spotify, as well as other Travis Scott songs like Through the Late Night featuring Kid Cudi and Who? What? from his 2018 Astroworld album.
Cardo has also collaborated with Kendrick Lamar on songs like euphoria, Savior, GOD., Big Shot with Travis Scott, and Family Ties with Baby Keem. Other significant titles in the deal include H.E.R.‘s Slide and Don Toliver‘s Private Landing, which features Justin Bieber and Future.
“Cardo is a prolific music producer who has made some of the most culturally impactful songs for some of the biggest artists of the streaming era.”
Rodney Murphy, Kilometre Music Group
“Cardo is a prolific music producer who has made some of the most culturally impactful songs for some of the biggest artists of the streaming era. Kilometre’s partnership with Cardo is of great importance to us and we feel privileged to be a part of his life’s work,” said Kilometre President Rodney Murphy.
Commenting on the deal, Cardo said: “Thank you to my team, my lawyer and Kilometre for giving me an opportunity to buy a spaceship now.”
“The Fund’s investment in music rights is now approaching $150 million and this deal further solidifies Kilometre Music Group as a leading force in modern music publishing,” added Kilometre CFO James Freeman.
“The Fund’s investment in music rights is now approaching $150 million and this deal further solidifies Kilometre Music Group as a leading force in modern music publishing.”
James Freeman, KILOMETRE MUSIC GROUP
Added Freeman: “Kilometre continues to build on its core mission to build a premium song portfolio comprised of the biggest hits by the most important artists from the greatest era of growth in music industry history.”
Co-founded by Michael McCarty and Rodney Murphy in 2021, Kilometre Music Group partnered with independently owned Toronto investment firm Barometer Capital Management Inc. to create the Barometer Global Music Royalty Fund. The fund’s mission “is to build a premier catalog of high quality, enduring music copyrights and royalty streams.”
Earlier this year, Kilometre Music acquired stakes in the hit singles Lavender Haze and Karma from Taylor Swift’s Grammy-winning album Midnights. Kilometre says its fund has also increased its ownership stake in The Weeknd’s hit songs Blinding Lights, Save Your Tears, and Earned It and added a stake in The Weeknd’s third most-streamed song Starboy to its portfolio. Those deals were struck with “various co-writers and producers of the hit songs.”
Over a year ago, Kilometre secured a $50 million credit facility with financial services firm Pinnacle Financial Partners.
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