These catalog sales stories don’t tend to come with a bit of fine print.
Earlier today (February 24) Spirit Music Group announced that they have get basic master rights to the catalog of country superstar, Jason Aldean.
That catalog spans nine albums, and sources tell MBW Spirit’s cost is just over $100 million.
All of that was, and still is, absolutely correct.
However, there is an additional piece to this puzzle.
BMG-owned Broken Bow Records was Jason Aldean’s record label for nearly two decades.
Following news of its acquisition of Spirit, BMG made it clear that Broken Bow will remain the home of the Aldean brand until “at least 2030”.
Some of Aldean’s existing albums are still exclusively licensed through BMG/Broken Bow – meaning that although Spirit does indeed own the underlying rights to these recordings, Broken Bow will still control them. until these licenses expire.
(Of course, if desired, Spirit has the option to renew Aldean’s license agreement with BMG/Broken Bow upon this expiration date.)
Additionally, BMG has confirmed that Broken Bow has a deal to release Aldean’s next studio album – Georgia — on April 22 of this year, and that Broken Bow will also be the star’s label for his next three albums.
BMG Nashville President Jon Loba said ahead of the Spirit/Aldean story earlier today: “We understand Spirit’s enthusiasm, but they’re a bit early.
“We congratulate Jason on his deal and look forward to continuing to work with him just as we have over the past 18 years.”
Previously announced BMG / Broken Bow a new global licensing agreement with Aldean for his recordings in October 2019.
BMG buying Nashville-based Broken Bow was part of a $103 million acquisition in 2017.
“We understand Spirit’s enthusiasm, but they are a bit early. We congratulate Jason on his deal and look forward to continuing to work with him as we have had over the past 18 years.”
Jon Loba, broken bow
The group Spirit is sponsored by Lyric Capital. Last October, Lyric hit $500 million strategic alliance with Northleaf Capital.
Since that deal, Toronto-based Northleaf has used Spirit’s musical assets to salary increase support in a bond offering worth $303.8 million.Worldwide music business
https://www.musicbusinessworldwide.com/bmg-broken-bow-is-jason-aldeans-label-home-until-least-2030/ Broken Bow is Jason Aldean’s home until at least 2030