Round Hill Music Royalty Fund Limited has acquired 100% of the master royalty income of 532 original recordings from American classic R&B group, The O’Jays.
The catalog comprises 532 original recordings, including hits such as Love Train, Use Ta Be My Girl, Cry Together, Back Stabbers, For The Love of Money, Forever Mine, Put Your Hands Together, Stairway To Heaven and I Love Music.
The catalog acquired includes 100% of The O’Jays master royalty income.
Back Stabbers was the band’s first million-selling album and it produced hit singles including 992 Arguments, Sunshine, Time to Go Down and the No.1 hit Love Train.
The O’Jays’ For The Love Of Money was the theme song to the US hit reality TV show The Apprentice, bringing their music to a whole new generation;
The group are two-time Grammy Hall of Fame inductees for their songs Love Train and For The Love of Money, and were honoured with the BET 2009 Life Time Achievement Award and inducted into the National Rhythm and Blues Hall of Fame in 201.
The O’Jays have achieved 10 gold and 9 platinum albums throughout their 63-year career.
According to the announcement, the catalog has significant exposure to streaming, comprising 64% of revenue mix, with the balance being comprised of 3% Physical, 10% Download, 17% Sync and 6% Other.
In terms of geographical exposure, 88% of the revenue is from the US, while the balance is from other countries.
The top songs ranked by revenue are: Love Train, Forever Mine, For The Love of Money, Back Stabbers, Use Ta Be My Girl, Cry Together, Stairway To Heaven and I Love Music.
All figures above are based on the catalog’s royalty statements in the calendar years 2018-2020.
The O’Jays made their first chart appearance with the hit Lonely Drifter in 1963 but reached their peak success once they teamed up with Gamble & Huff, a group of producers and songwriters, who signed them to their Philadelphia International label in 1972.
Following this, the O’Jays gained notoriety and emerged at the forefront of Philadelphia soul with Back Stabbers in 1972 and topped the Billboard Hot 100 in 1973, followed by Love Train in 1974.
This success followed their debut album, Comin’ Through. More recently, The O’Jays were welcomed into the Vocal Group Hall of Fame in 2004, and The Rock and Roll Hall of Fame in 2005, and in 2013 they were inducted into National Rhythm and Blues Hall of Fame.
“The acquisition further demonstrates the ability of Round Hill to source and acquire catalogues which have produced long-term steady royalty revenue over the past decades.”
Trevor Bowen, Round Hill Music Royalty Fund
Trevor Bowen, Chair of Round Hill Music Royalty Fund, commented: “We are delighted to announce the acquisition of 100% of the master royalty income of The O’Jays.
“The acquisition further demonstrates the ability of Round Hill to source and acquire catalogues which have produced long-term steady royalty revenue over the past decades.
“The addition of the O’Jays’ catalogue provides further diversification in terms of artist, genre, vintage and income type, making it a welcome addition to our growing portfolio.
“We are delighted to see the Investment Manager competently executing on its pipeline of attractive opportunities.”
“We are pleased to be able to secure this exceptionally high quality catalog, which will make a fantastic addition to the landmark portfolio of timeless music we are constructing for RHM, to support predictable and consistent revenue streams.”
Josh Gruss, Round Hill
Josh Gruss, Chairman and CEO of Round Hill, the Company’s investment manager, said: “The O’Jays will be known to many as one of the main figures in the 70s’ Soul scene in Philadelphia, which saw the genre come to the fore and a funk influence emerge which has shaped disco music for generations.
“We are pleased to be able to secure this exceptionally high quality catalog, which will make a fantastic addition to the landmark portfolio of timeless music we are constructing for RHM, to support predictable and consistent revenue streams.
“We look forward to updating Shareholders further on our near-term pipeline of exciting opportunities.”
“We are very happy we found Round Hill to look after our lifelong catalog.”
Eddie Levert and Walter Williams, The O’Jays
The O’Jays’ Eddie Levert and Walter Williams said: “We are very happy we found Round Hill to look after our lifelong catalog.
“We would like to thank Josh Gruss, Robin Godfrey-Cass, Michael Selverne, our management company 21st Century Artists, Toby Ludwig and our attorney Dorothy Weber.”