Sunday, January 14, 2018

[PUBLISHING]: Primary Wave Acquires Share of Bob Marley's Music Catalog

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 HIP HOP CULTURE | HIP HOP ARTS  LIFESTYLE AND COMMUNITY NEWS
[Welcome to Tha’ Palace!]:  The revitalized Primary Wave, backed by institutional investors including BlackRock, has acquired a share of reggae legend Bob Marley’s music publishing catalog.
The New York Times reports that Blackwell signed a $50 million deal that gives Primary Wave an 80 percent share of Island Records founder Chris Blackwell’s share of two publishing catalogs, Marley’s songs and Blue Mountain Music.
Blue Mountain's catalog includes songs from Marley, Toots and the Maytals, Free, U2 and the Waterboys, among others, according to the company's website.
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Primary Wave was founded by former record label executive Larry Mestel in 2006. The company sold the the bulk of its catalog to BMG in 2013, and then started rebuilding its catalog when it acquired the writer's share of Smokey Robinson's catalog in 2016, with the backing of a $300 million war chest from BlackRock and other institutional investors.

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 In the U.S., the Bob Marley album catalog scanned 22,000 copies while his songs were downloaded 61,000 times; and on-demand streams totaled about 100 million, while Bob Marley & the Wailers, according to Nielsen Music. Since Nielsen Music started tracking music sales and activities in 1991, the Marley album catalog has scanned about 28 million copies, while his songs have been downloaded 14.8 million times and streamed 1.68 billion times.
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