29th Dec 2021 08:00
(Alliance News) - Round Hill Music Royalty Fund Ltd said Wednesday it has acquired a "significant share" of the publishing rights of Niko Moon, a US country singer.
The deal comprises 29 compositions, including songs performed by Zac Brown Band, Avicii, and Sir Rosevelt. The top songs ranked by revenue are: Homegrown, Keep Me in Mind, Heavy is the Head, Beautiful Drug and Loving You Easy. The firm noted Loving You Easy is co-written by Al Anderson, a catalogue already owned by the company.
Round Hill did not disclose the financial details of the deal but noted the catalogue has a revenue mix of 37% mechanical, 52% performance, 10% sync and 1% other.
Round Hill Music Royalty Fund Chair Trevor Bowen said: "We are pleased to announce the acquisition of this important catalogue. This acquisition highlights Round Hill's ability to source and acquire attractive catalogues in a highly diverse array of music markets. This acquisition will bolster the portfolio's country and pop assets, further diversifying the portfolio by genre and income type."
Moon is currently signed to Sony Music Nashville/RCA Nashville.
He has written songs for numerous country artists including Dierks Bentley, Zac Brown Band, Rascal Flatts, and Morgan Wallen. He was also a member of the group Sir Rosevelt with Zac Brown and Ben Simonetti.
"The board believes these assets to be in a highly valuable music genre for the company's exposure to quality writers like Niko Moon due to Country's typically longer average duration cash flows," Bowen added.
Josh Gruss, chair and CEO of Round Hill, the company's investment manager, said Moon was an "elite talent" with a "superb catalogue".
He added: "We look forward to updating shareholders imminently on our near-term pipeline of exciting opportunities."
By Paul McGowan; [email protected]
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