New York-based music and entertainment investment firm Influence Media Partners has acquired the songwriting catalog of songwriter Skyler Stonestreet in what the firm describes as “a multi-million dollar transaction”.
Stonestreet has written hits for Justin Bieber and Ariana Grande, Dua Lipa, The Chainsmokers, Hailee Steinfeld, Marshmello, Tate McRae, Sabrina Carpenter and Lennon Stella, among others.
Influence Media Partners launched a fund in March 2021 to invest in “award-winning catalogs of some of music’s most influential female music creators”.
The fund, co-founded with Municipal Employment Retirement System (“MERS of Michigan”), carries an initial value of up to $100 million in investable capital.
Stonestreet’s catalog sale to Influence Media Partners covers just under 80 songs, some dating back to the start of Stonestreet’s career in 2013.
Influence says that her catalog boasts more than 3.5 billion streams worldwide.
Since the sale, several new Stonestreet-penned tracks have been released, including Dove Cameron’s Boyfriend, which the company says was the No. 1 most-added song at pop radio in early March, and has cracked radio Top 40 at No.20 in less than three weeks.
“I am so blessed to partner with Influence on my catalog of songs.”
“I am so blessed to partner with Influence on my catalog of songs,” said Stonestreet.
“Music is my life and these songs mean so much to me. It feels amazing to find a partner that truly values them.”
“Skyler’s story is remarkable.”
Evan Winiker, Range Music
“She came to Los Angeles with the dream of being a writer, put in the time doing sessions day in and day out, and truly became one of the best in town.”
“Skyler Stonestreet is pure gold.”
Lylette Pizarro, Influence Media
Influence Media Founder and Co-Managing Partner Lylette Pizarro, said: “Skyler Stonestreet is pure gold. Not only is she one of the most gifted writers in the business with a range that rivals most, but her story is an inspiration to anyone looking to chase their dream.
“In short, Skyler is the type of artist that Influence is here to support, and we cannot wait to build a future together.”
In May 2021, Influence Media Partners acquired a portfolio of copyrights from the catalog of Grammy-nominated singer/songwriter Julia Michaels.Music Business Worldwide