After spending $120m+ in 14 months, Multimedia Music buys STX Entertainment music library in eight-figure deal

newsofmax02/17/2023

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Just this week, born in the UK Advanced media music (CEMM) 100 million USD guaranteed in funding from a group of banks led by Pinnacle Financial Partners to increase cash reserves to invest in music for movies, TV, video games, etc.

That new $100 million raise comes a year after the company invested $125 million, grew up in a first round, to buy movie and TV music rights.

Today (February 16), another company operating in this space, Multimedia music, yes announced that it has closed an eight-figure deal to purchase music publishing rights and music rights from its entire soundtrack library. STX Entertainment.

Included in the deal is music for movie titles like Bad mothers, Gentleman, thief’s cave, continent And foreigner and music by composers including Hans Zimmer, Cliff Martinez, Marcelo Zarvos, Hauschke, Chris Lennertz, Andrew Lockington, Clinton Shorter and Nicholas Britell.

The agreement does not include rights in any of STX’s current or future films.

Led by industry veterans Phil Hope and James Gibb, Multimedia music acquires and manages copyrights and music earnings in film and television productions.

Company launch in early 2022 with an initial $100 million funding from Metropolitan Partners Group, Pinnacle Bank and Regional Bank to purchase a portfolio of film and television music rights from production companies, composers and rights holders other.

Since launching just 14 months ago, Multimedia Music says it has deployed more than $120 million in acquisitions.

Some of these acquisitions have included:

Film composer James Newton Howard’s catalog (including soundtracks and TV soundtracks for Hunger game trilogy, dark Knight, Cruel, Snow White and the Hunter, King Kong, I’m a legend, runaway bride, Emily in Paris, Beautiful Woman, et cetera.)
Copyright and publication rights to the film score catalog of 48 titles from Atlantic Screen Music in a “mid-seven-figure” deal that includes rights to scores from movies like 2 guns, lone survivor, Server, Dredd, Escape planAnd broken city, has grossed hundreds of millions of dollars at the global box office.

Multimedia music has also acquired music rights and income from several composers Tyler Bates, David Buckley And Michael Corcoran.

Included in the works of Tyler Bates are Guardians of the Galaxy And John Wick Franchising, the dead 2, The spy abandoned me,, Fast and Dangerous Gifts: Hobbs & Shaw, and TV shows include California And who punished.

The David Buckley catalog purchase includes all of his previous works including Nobody, continent, Papillon, Jason Bourne, Nice boys, Town, Parker, Forbidden Kingdom and TV hits The good Wife And Attorney Lincolnamong many other titles.

Michael Corcoran is a composer known for his youth and children’s programs and the deal with MMM includes productions with his music including iCarly, win, dangerous Henry And Liv and Maddie, which MultiMedia Music says is “all broadcasts consistently worldwide”.

“We are thrilled to have this library of music created by some of the top composers in the industry.”

James Gibb, Multimedia Music

James Gibb, Multimedia Music Partner, said: “We’re thrilled to have a library of music created by some of the industry’s leading composers.

“Over the past 10 years, STX has repeatedly produced and released high-quality commercial films. Many thanks to Jason Markey and the STX team, who were instrumental in closing this deal in a very short amount of time.”

Noah Fogelson, CEO of STX Entertainment, added: “The team at Multimedia Music have secured publishing rights to some of the industry’s leading artists and composers, and we know this library will add to its price tag. value for their growing and impressive portfolio of publications and primary rights.”

Global Music Business