One of the music business’s biggest characters will be sticking around for a while yet.
Martin Bandier has just signed a contract extension to remain as Chairman and CEO of Sony/ATV Music Publishing.
74-year-old Bandier joined Sony/ATV as Chairman and CEO in 2007, following a 17-year spell running EMI Music Publishing, which he took over in 1989 after his company SBK was acquired by EMI.
The new deal – which Page Six rumoured last year was worth up to $7m per annum – arrives as speculation swirls around what the future will hold for Sony/ATV’s ownership.
The company – the biggest music publisher in the world, in control of over 3m copyrights – is a joint venture between Sony Corporation of America and the Estate of Michael Jackson.
Sony Music Entertainment last year triggered a buy/sell clause for Sony/ATV with its fellow co-owner.
One or the other of the parties could emerge as the sole owner of the company, which is believed to be worth $2bn, in 2016.
Bandier said: “I am thrilled to continue my role at Sony/ATV Music Publishing and continuing to work with a talented group of colleagues.
“Since my arrival, we have become the No. 1 music publisher and I am proud to say we represent many of the world’s best-loved songs alongside some of its greatest songwriters.
“I would like to thank sony and [the jackson estate] for their support and confidence in me, and I look forward to sharing many more successes with them over the next few years.”
Martin Bandier, Sony/ATV
“I would like to thank Sony and John Branca and John McClain, the co-executors of the Estate of Michael Jackson, for their support and confidence in me, and I am looking forward to sharing many more successes with them over the next few years.”
Michael Lynton, CEO of Sony Entertainment Inc. said: “Marty Bandier is a legend in the music industry, and we are thrilled that he will continue his work at Sony/ATV.
“Since he first joined in 2007, the company has reached amazing heights, and we expect that it will continue to flourish under his guidance.”
John Branca and John McClain, co-executors of the Estate of Michael Jackson, said: “Renewing Marty’s relationship with Sony/ATV avails the Estate of his enormous creative and executive talents as we strategically and profitably meet the challenges of our evolving business.”
Sony/ATV’s catalogue includes songs by contemporary superstars such as Taylor Swift, Ed Sheeran, Sam Smith and Pharrell Williams as well as works by all-time legends including The Beatles, Bob Dylan, Carole King, Queen, Marvin Gaye and Stevie Wonder.
“Renewing marty’s relationship with Sony/ATV avails the jackson estate of his enormous creative and executive talents.”
John Branca & John McClain
In 2011 and 2012, Bandier played a key role in the $2.2bn acquisition of EMI Music Publishing by Sony Corporation of America, the Estate of Michael Jackson and an investment group headed by Mubadala Development Company, for whom Sony/ATV administers the EMI catalog.
While at Sony/ATV Bandier has also negotiated the acquisitions of both the Famous Music catalog – which includes scores for film such as The Godfather, Braveheart and Mission Impossible – and the Leiber & Stoller catalog whose hits include “Stand By Me”, “Hound Dog” and “Jailhouse Rock”.
In February 2015 Bandier became the first ever music publisher to receive the Grammy Awards’ President’s Merit Award for his work in the music industry during a Grammy weekend when many of the company’s songwriters, including Sam Smith and Pharrell Williams, were also honored.
He has been inducted into the Songwriters Hall of Fame, while among his many industry roles he serves on the boards of the City of Hope, ASCAP, the Songwriters Hall of Fame and the National Music Publishers Association (NMPA).Music Business Worldwide