BMG has acquired The Hollies (pictured) record catalogue. Credit: Tony Russell/Redferns
After losing over $400 million in song rights in 2022, BMG has officially acquired the recorded catalog of Manchester-based rock band The Hollies.
BMG, a KKR and Pimco partner, today emailed Digital Music News to update it on its latest music IP investment. According to the Telamo owner — who announced in late March that it had achieved a 30.6 percent increase in sales over the past year — this latest catalog buy-out spans “more than 20 studio, compilation, live and tribute album titles and rarities”, all “complete”. owned” by the 61-year-old group.
Releases included in the transaction include acts inducted into the Rock and Roll Hall of Fame Evolution and Butterfly (1967), confessions of the spirit (1970), On another night (1975) and Then, now, always (2009) efforts, to name a few. These albums include much-streamed tracks like “Long Cool Woman (In a Black Dress)”, “The Air That I Breathe” and “He Ain’t Heavy, He’s My Brother”.
In a statement, the Hollies – who have a series of shows planned for September, October and November – addressed the catalog sale and mentioned the perceived potential of the agreement to “keep their work alive for generations to come”.
And Thomas Scherer, BMG president of repertoire and marketing for New York and Los Angeles, said in his own remarks his company was “delighted” to represent The Hollies’ catalogue, the retail price of which has not been publicly disclosed.
“The Hollies spearheaded the ‘British Invasion’ of the ’60s,” said Scherer, “and we’re delighted to have secured the US rights to their golden era, including ‘Long Cool Woman (in a Black Dress )’.” We are honored to represent her enduring creative legacy.”
BMG (which will appoint Thomas Coesfeld as CEO next month) also said it “will be announcing additional transactions shortly.” To illustrate, in 2022, the Pinterest-collaborating company completed approximately 45 music IP buyouts, including catalog deals with the Harry Nilsson Estate, Fools Garden, Primal Scream, and the John Lee Hooker Estate.
Notwithstanding the uncertain economic situation, other companies in the industry continue to stop their own catalog purchases. For example, in June, Seoul-based Beyond Music announced a $170 million capital increase and outlined plans for IP investments, Anthem Entertainment increased its stake in the Timbaland catalog, and CTM Outlander struck an agreement with songwriter Shane McAnally.
Meanwhile, Universal Music Group is reportedly planning a more than $1 billion track for the Queen catalog, despite an apparent pause in blockbuster deals and the failure of some deals that allegedly never materialized.