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Creative Industries

Iconic Artists Group closes deal with Rod Stewart after securing up to $1 billion from HPS and debt financing to buy music assets

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Iconic Artists Group, the music rights company set up by Irving Azoff, has secured a strategic investment from global investment firm HPS Investment Partners (HPS).

Iconic's goal is to deploy up to $1 billion to acquire music assets through HPS financing, together with senior debt financing from third parties. Iconic plans to acquire and manage a diverse portfolio of "legendary artists' music assets."

"With HPS’ support, Iconic will further solidify its position as the trusted partner of...

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Emmanuel is a Washington, DC-based freelance journalist, blogger and media consultant, specialising in the entertainment business and cultural trends. He was the US editor for British music industry trade publication Music Week. Previously, he was the editor of Impact, a magazine for the music publishing community (2007-2009), the global editor of US trade publication Billboard (2003-2006), and the editor in chief of Billboard’s sister publication Music & Media (1997-2003).

Creative Industries

Concord wins bid to acquire Hipgnosis Songs Fund for $1.4 billion in cash

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The Board of Directors of Hipgnosis Songs Fund (HSF), the London-listed portfolio of music assets, has agreed to sell to Concord in an all-cash transaction worth $1.402 billion, equivalent to £0.932 per share.

The deal is made by Concord Chorus Ltd, an entity indirectly controlled by Alchemy Copyrights, LLC, and trading as Concord. The deal will be financed by private equity group Apollo through debt and a minority stake in Concord Chorus. The transaction represents a premium of approximatel...

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Creative Industries

Warner Chappell Music signs The Red Clay Strays a global publishing agreement

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Country-rock band The Red Clay Strays have signed a global publishing deal with Warner Chappell Music (WCM).

With roots in Mobile, Alabama, The Red Clay Strays have been playing together since 2016. The band is comprised of lead singer Brandon Coleman, electric guitarist Zach Rishel, guitarist/vocalist Drew Nix, bassist Andrew Bishop, and drummer John Hall.

The band also includes its main songwriting partner and videographer Matthew Coleman, who commented: “We’re looking forward to part...

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Creative Industries

BPI’s new Yearbook highlights the strength of UK independent music sector

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Close to 30% of all music consumed in the UK was released by the independent sector, according to 45th yearbook 'All About The Music 2024' published by the BPI, the trade organisation representing the major record companies and hundreds of independent labels.

The report shows that the independent sector has been growing for a sixth consecutive year, claiming 29.2% of the UK's Album Equivalent Sales (AES) in 2023. That share is a third higher than in 2017 (22.1%).

The cover of BPI's All A...

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