Following high-profile catalog performances by Reservoir Media, Multimedia Music and Litmus Music earlier this week, Warner Music Group and BlackRock-backed Influence Media Partners has invested in hip-hop superstar Logic’s music IP in an “eight-figures- Deal.”
New York City-based Influence Media, which announced in February 2022 that it had received $750 million in catalog investments, unveiled its latest acquisition in a formal notice emailed to DMN this morning . Today’s transaction includes “185 titles,” according to the buying company, which previously announced it is “modern evergreens” and the work of “diverse-focused female artists and songwriters.”
And while four-year-old Influence (like most of the aforementioned catalog investors) chose not to reveal exact ownership dates in its announcement message, bosses acknowledged the commercial importance of the music involved.
That music includes 33-year-old Logic’s “1-800-273-8255” (featuring Alessia Cara and Khalid and roughly 1.25 billion Spotify streams), “Homicide” (featuring Eminem and nearly 500 million Spotify streams), and “Everyday” (with Marshmello and with around 517 million Spotify streams). In addition to recording the songs, Rockville, Maryland native Logic wrote and/or produced the tracks.
Not only did the catalog buyer share that the agreement with Logic “further solidifies Influence Media’s investment in the future of hip-hop,” but also emphasized its goal to “continue to expand the impact of Logic’s contribution to pop culture.”
Explaining the goal, Rene McLean, founding advisor and partner at Influence Media, said: “Logic has not only made a tangible impact on the music charts but also on culture, and their commitment to destigmatizing and raising awareness of mental health issues is admirable. “ Influence Media is proud to partner with Logic to ensure his powerful work is heard for generations to come.”
Meanwhile, in his own comments, Logic (who signed to BMG in 2022 and released his first project as part of the multi-album deal in February 2023) said, “It’s important to me that the positive messages of my music continue to live on.” We’re reaching new audiences and I’m excited to be working with Rene and the team at Influence Media Partners to create even more impact through creativity.”
Last year, Influence Media acquired the recording and/or release catalogs of Future, Blake Shelton (who also formed a joint venture with the company) and veteran songwriter Skyler Stonestreet. Beyond those purchases and Logic’s music IP sale, reports suggest that blockbuster tracks featuring works by Michael Jackson and Queen could be on the way.