What's Happening?
Round Hill Music, a catalog investment firm led by Josh Gruss, has announced the acquisition of select portions of the music catalogs of Modern English and Vini Poncia. The acquisition includes the publishing and master rights to Modern English's 1983 hit 'I Melt With You' and Poncia's publishing rights to his entire catalog, which features the KISS classic 'I Was Made for Lovin’ You' and 'You Make Me Feel Like Dancing' by Leo Sayer. Financial details of the transaction have not been disclosed. Gruss expressed personal significance in acquiring Modern English's catalog, as the band was the first he saw perform live, sparking his lifelong love of music. Modern English's 'I Melt With You' gained popularity through its inclusion in the film Valley Girl and various TV shows and movies. Vini Poncia, known for his collaborations with artists like Ringo Starr and The Ronettes, has had a successful career spanning six decades.
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Why It's Important?
The acquisition by Round Hill Music highlights the ongoing trend of investment firms purchasing music catalogs, which can be lucrative due to the enduring popularity and potential for licensing opportunities. By acquiring these catalogs, Round Hill Music can leverage the songs for sync opportunities in streaming, film, and television, ensuring the continued legacy and marketability of these iconic artists. This move reflects the growing interest in music rights as a stable investment, with Round Hill Music managing approximately $1 billion in assets and over 200,000 songs. The acquisition also underscores the importance of music catalogs in the entertainment industry, providing a steady revenue stream and expanding the reach of classic hits to new audiences.
What's Next?
Round Hill Music plans to explore ways to utilize Poncia's catalog in conjunction with the upcoming KISS avatar show, potentially expanding the reach and impact of these classic songs. The firm will continue to manage, invest, and license these songs for various platforms, ensuring their enduring popularity and finding new fans. As the music industry evolves, Round Hill Music's strategic acquisitions may influence how music catalogs are valued and utilized, potentially leading to more innovative ways to engage audiences and preserve musical legacies.
