Entertainment

ZZ bestsellers catalog for BMG and KKR – Billboard

BMG and KKR got it all ZZ Top’s musical interests, including the band’s publishing portfolio and recorded music royalties, according to an announcement from the two companies. Terms of the agreement were not disclosed.

According to the statement, the band has sold more than 50 million albums worldwide, earning one diamond album and two multi-platinum albums since its founding in 1971. Over the past four years, ZZ’s album catalog Top has averaged nearly 300,000 albums. consumption unit a year, according to MRC Data.

BMG and KKR, cooperated over a decade ago, from about 2009 to 2013 when the music company was relaunched, rejoined earlier this year. This appears to be their first deal, or at least the first announced, under the new deal.

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“This agreement is testament to ZZ Top’s continued success, power and musical relevance, as well as the strength of our partnership with KKR,” said CEO. BMG Hartwig Masuch said in a statement. “This agreement advances our vision of providing artists and musicians with not only a financial outlet but also a means of committing to respect and cherish their art.”

At the same time, KKR has also partnered with Dundee Partners, the investment office of Hendel Family, in an investment vehicle they named Chord Music Partners. Thus, KKR’s entry into this agreement is with Dundee Partners and is done through the Chord Music Partners structure.

In October, Chord Music Partners acquired their own Kobalt music catalog for $1.1 billion blockbuster deal; while the same month, BMG took it upon themselves to acquire Tina Turner’s musical interests including royalties on her main recordings, a writer’s share of songs she wrote or co-wrote, and rights vicinity.

BMG served as co-publisher and catalog manager for the popular Rock And Roll Hall of Fame, whose documentary about rockers was released this year.

“We are excited to invest in ZZ Top’s iconic music and we look forward to partnering with BMG and ZZ Top to further enhance the reach of their catalog,” said Jenny Box. , the KKR partner said in a statement.

ZZ top manager Carl Stubner of Shelter Music Group said in a statement, “We are proud to continue our partnership and expand our longstanding relationship with BMG. This new deal ensures the remarkable legacy of ZZ Top will live on for generations to come. ”

ZZ Top’s longtime bassist Dusty Hill has passed away this early year, at the age of 72.

The band has landed seven albums above Billboard 200top 10: Tres Hombres at number eight in 1974, Fandango! in 10th place in 1975, Removal machine at number nine in 1983, Afterburner in fourth place in 1985, Recycler in sixth place in 1990, Best songs in 9th place in 1992, and La Futura at number 6 in 2012. They were inducted into the Rock Hall in 2004 and received three Grammy nominations.

https://www.billboard.com/business/publishing/bmg-kkr-buy-zz-top-catalog-1235013246/ ZZ bestsellers catalog for BMG and KKR – Billboard

Dais Johnston

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