A live performance from Ray Charles, who’s said to have performed some of the works in the ‘Entertain Me’ catalog. Photo Credit: Victor Diaz Lamich
Days after inking an expanded distribution deal with Sony Music’s The Orchard, One Media iP has announced the acquisition of the “licensor’s income share” of an over 15,000-track catalog.
One Media iP reached out to Digital Music News today with word of the investment, which was executed specifically via its “Harmony IP” royalty-advance program. Bankrolled “through existing cash resources” and finalized “at an advantageous earnings multiple,” the transaction will afford the U.K.-based company the aforementioned income share “on an in-perpetuity basis,” according to higher-ups.
Moreover, said income share corresponds to the “Entertain Me” catalog, One Media emphasized, including 20th century works performed by the likes of Dean Martin, James Brown, Louis Armstrong, Ray Charles, and Jackie Wilson, to name some. By genre, the expansive collection of IP is said to extend to classical, country, blues, children’s music, jazz, swing, and disco, among others.
Though additional Entertain Me details (beyond the above-mentioned acts who’ve recorded a portion of the works) weren’t provided, One Media did note that The Orchard has distributed the catalog since 2009.
And while One Media also opted against disclosing the play’s precise financials, it doubled down on a longstanding goal of “owning and managing evergreen music rights that have a proven track record.” (May of 2022 saw the entity add its name to the list of companies looking to secure an interest in Pink Floyd’s song rights. However, evidence has in the interim suggested that the group isn’t positioned to sell after all.)
In a statement, CEO Michael Infante touched upon the continued commercial prominence of catalog releases, many of which have hit streaming milestones during 2023.
“This acquisition not only gives us income exposure to new songs in our sweet spot of music nostalgia,” communicated Infante, “it also allows us to strategically consolidate certain income streams where we also have a portfolio exposure to some of the tracks in the Entertain Me catalogue. It also adds a proven new revenue source at an attractive multiple.”
Last month, companies including but not limited to Influence Media, Reservoir, BMG, and Round Hill unveiled catalog plays of their own. When the market closed today, shares in One Media (AIM: OMIP) were up almost 14 percent from Monday; the company is said to have generated £5.1 million (currently $6.41 million) during its last-completed fiscal year.