The bigger deals were on the publishing company level, as Sony acquired the Hipgnosis Songs Group, which was the operational part of the Hipgnosis effort, and included traditional songwriting deals for an undisclosed amount. In the meantime, at the end of 2024, the Universal Music Group’s Virgin Music Group agreed to acquire Downtown, though that deal still needs approval from EU regulators and faces strong opposition from the independent label community.
In addition to Downtown’s formidable distribution presence, Universal Music Publishing Group (UMPG) could have an issue if the deal gets approval, as Downtown maintains a strong publishing operation with a roster that boasts traditional name songwriters including Tori Amos, Yoko Ono, John Lennon, George Gershwin and John Prine, among others; as well as Songtrust, which began as an administrator for DIY songwriters.
In May, Concord agreed to acquire Broadway Licensing Global in a deal that widened its presence in theatrical plays, including musicals. The latest deal brings in plays by the likes of Tennessee Williams, Sam Shepard, Alan Menken, Arthur Miller and Harry Potter Theatrical Productions under the umbrella of Concord, which already owned Rogers & Hammerstein Theatricals, Tams-Witmark, Samuel French and The Andrew Lloyd Webber Collection.
And as the year began drawing to a close, sources told Billboard that Spirit Music’s first music portfolio, owned by Northleaf Capital Partners, was on the block. The catalog was heavily weighted toward publishing assets but also included some master recording assets, with the seller said to be seeking a more than $500 million valuation.
