Litmus Music has been busy.
Since late 2022, the company, backed by Carlyle’s global credit platform, has acquired the catalogs of Benny Blanco, Keith Urban and Katy Perry, among others.
Earlier this year, it was reported litmus Acquired Opus’ music portfolio for nine figures, including catalog rights to Juice WRLD, Ozuna, Maluma and Rauw Alejandro.
Today (October 17), Litmus announced its latest major transaction: acquisition Randy Newman’s He has a share of recorded and published music.
This catalog covers Newman’s Soundtracks for Disney franchises such as Toy Story, Carsand princess and the frogand his studio recordings from the ’70s and ’80s, including “I Love L.A.,” “Mama Told Me Not to Come,” “Feels Like Home,” “You Can Keep Your Hat on,” “Shorty,” “Baltimore” and “It’s a jungle out there.”
(Some important fine print: Newman’s musical masterworks recorded for Disney are credited disney music group;most of his 1970s and 1980s studio works belong to the master Warner Music Group. Newman appears to have sold the royalties from these recordings to Litmus. Meanwhile, Newman’s longtime manager of music publishing rights is Universal Music Publishing Group.)
litmus music Founded by music industry veterans Dan McCarroll and Hank Forsyth Summer 2022. US$500 million Funding from Carlyle Global Credit is divided into equity and debt.
Earlier this year, Litmus upsized Carlyle’s credit line from US$250 million arrive $400 millionwhich is used to complete work get.
financial terms Randy Newman The acquisition has not yet been disclosed.
Discussing the Randy Newman trade today, Dan McCarrollCo-Founder and Chief Creative Officer litmus music” said: “Randy Newman is a unique and talented songwriter, composer and performer whose work proves that he is a timeless artist.
“There is absolutely no one like him and his impact on the music industry cannot be overstated. We are extremely proud and excited to acquire Randy’s catalog of beautiful, witty and observant songs.
Hank ForsythLitmus Music co-founder and CEO added, “Randy’s music has touched many generations. His songs continue to transcend time and illuminate movies. Dan and I, along with the entire Litmus team, are extremely grateful to Randy for trusting us as his partner.” Taking care of these songs and recordings is a privilege and a responsibility we don’t take lightly.
Alex Popov“Randy Newman’s music has been a staple of childhood memories and experiences for decades,” said Carlyle Private Credit executive.
“Litmus Music continues to work with the world’s leading artists to promote and advance the value of iconic works.”
In an interview with Reuters, Popov Further comment: “Music is a tailwind industry. It provides investors with uncorrelated income – investors receive cash flows that are uncorrelated with more traditional economic activity – and it’s a sizable market.
He added: “Randy Newman’s catalog’s relationship with Disney and some of its legendary films like ‘Toy Story’ creates tremendous value.
“That’s the type of asset we like. In terms of demand stability, Newman is at the top of the list.
Newman’s self-titled debut album Randy Newman Released in 1969.
In the 1970s, 1980s and 1990s he released several critically acclaimed albums such as: 12 Songs, Sail Away, Good Old Boy, Little Criminal, Rebirth, Trouble in Paradise, Field of Dreamsand bad love.
Since 2003, he has released three works Randy Newman Songbook volume, plus Randy Newman: Live in London CD/DVD, Harp and Angeland dark matter.global music business
