28th Sep 2021 14:45
Round Hill Music Royalty Fund Ltd - investment company - Acquires the entire master royalty income for the catalogue of R&B group, The O'Jays. The catalogue includes 532 original recordings from the classic American group. Says the O'Jays have achieved 10 gold and nine platinum albums throughout their 63-year career. Streaming accounts for 64% of revenue, plus 17% in synced music, 10% in downloads, 3% physical product and 6% other. Revenue primarily comes from the US, which accounts for 88% of revenue the catalogue generates.
"Due to commercial sensitivities, the company is unable to disclose financial details for each acquisition as it occurs. However, on completion of the investment of proceeds from the C Share fundraise of USD86.5 million, together with the remaining undrawn balance of its existing revolving credit facility, the company will make further financial disclosure on the acquisitions," the company says.
Current stock price: USD1.06, up 0.3% on Tuesday
Year-to-date change: up 4.1%
By Scarlett Butler; [email protected]
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