Round Hill Music Fund acquires 'significant share' in Niko Moon catalogue

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Sharecast News | 29 Dec, 2021

17:18 31/10/23

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Round Hill Music Royalty Fund has acquired a “significant share” of the publishing rights of American country singer-songwriter Niko Moon, it announced on Wednesday.

The music intellectual property investor said the acquisition comprised 29 compositions, including songs performed by Zac Brown Band, Avicii, and Sir Rosevelt.

It said the catalogue included number one Zac Brown Band hits Homegrown, Keep Me in Mind, Heavy is the Head, Beautiful Drug and Loving You Easy.

Loving You Easy was co-written by Al Anderson, and was part of a catalogue already owned by the company, further increasing its ownership of the number one-charting country song in the portfolio.

Round Hill said the catalogue had a revenue mix of 37% mechanical rights, 52% performance rights, 10% sync rights and 1% other.

In terms of geographical exposure, 84% of the revenue was from the United States.

The company said that due to “commercial sensitivities”, it could not disclose the financial details for each acquisition.

On completing the investment of proceeds from the C share fundraise of $86.5m, together with the remaining undrawn balance of its existing revolving credit facility, the company would make further financial disclosures.

“We are pleased to announce the acquisition of this important catalogue,” said chair Trevor Bowen.

“This acquisition highlights Round Hill's ability to source and acquire attractive catalogues in a highly diverse array of music markets.”

Bowen said the acquisition would bolster the portfolio's country and pop assets, further diversifying the portfolio by genre and income type.

“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.”

At 1208 GMT, Round Hill Music Royalty Fund units were up 0.17% in London at $1.0618.

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