One of the biggest names in the world of Electronic Dance Music (EDM), Calvin Harris has sold his entire publishing catalog consisting of more than 150 songs to Vine Alternative Investments.
Known for his chart-topping hits “Summer”, “We Found Love” and a ton more, Harris has collaborated with the whos who in the music industry from Rihanna to Dua Lipa and Sam Smith to Travis Scott in his time in the industry.
While complete details of the deal were not divulged, as reported by Billboard, a source familiar with the value of Harris’ catalog estimates that the purchase cost Vine between $90 million and $110 million. In spite of the deal, the administration services for the catalog will continue to be carried out by Sony/ATV.
Speaking about the massive deal, Three Six Zero CEO and longtime manager to Harris, Mark Gillespie said,
“Vine’s process was extremely smooth. We valued their quick response time, exceptional knowledge of the space, and straight-forward approach. We are very comfortable that they will be great stewards of the catalogue.”
On the flip side, speaking about the deal on behalf of Vine, their partner in charge of Music sector investments, Rob Amir said, “We approach the music space the same way we have always approached the film and TV space, with an eye for and an appreciation of, the world’s most iconic content. The addition of Calvin Harris hits across multiple genres to our catalogs is a continuation of our pursuit of building a multi-genre media ecosystem that not only respects but honors the artists we partner with.”
Harris has a number of accolades to his name including, a coveted Grammy Award which he won in 2013 for “We Found Love” in addition to five other Grammy nominations. He has also had a whopping 14 MTV VMA nominations of which he has gone on to win four. He has also accumulated a staggering 30 billion combined audio and video streams over the history of his career in music.
This is not Vine’s first foray into acquiring a song publishing catalog either. As explained on their website, the company focuses on “unique, non-correlated investment opportunities in the media and entertainment sector.” Their inaugural deal into the music industry began with them acquiring the rights to the 100-song catalog of singer and songwriter Sean Douglas who has worked with massive names like David Guetta, Lizzo, and Demi Lovato in the past.
While we haven’t seen such deals at this level before, it isn’t surprising per se. To say the least, the music industry has been struggling due to the deep damages caused by the pandemic bringing the industry and this may lead to several acquisitions following.
H/T – Billboard (link – https://www.billboard.com/articles/business/9470964/calvin-harris-publishing-catalog-vine-alternative-investments )