One Media iP Group Plc - Acquisition of Music Catalogue
One Media iP Group Plc - Acquisition of Music Catalogue
London, September 18
19 September 2019
One Media iP Group Plc
("One Media", or the "Company")
Music Catalogue Acquisition – Philip Wesley
One Media iP Group Plc (AIM: OMIP), the digital media content provider that exploits intellectual property rights around music, video and copyright technology, is pleased to announce that it has acquired the entire music catalogue to date of American composer and solo piano artist Philip Wesley, for a total cash consideration of US $4.15m, satisfied upon full execution of the agreement. An additional US $100,000 cash consideration will be payable on the date falling one year from the date of execution of the agreement, subject to certain deliverables contained within the agreement.
Philip Wesley’s solo piano recordings have won him acclaim since his musical debut in 2002. His compositions have been played on radio around the world, have featured in film and are listed on all popular streaming platforms including Spotify, iTunes, Amazon and Pandora.
One Media has acquired both publishing and master rights in the 72 recordings composed and performed by Wesley. In 2018 his recordings were streamed more than 150 million times worldwide, with the top ten tracks enjoying 68 million streams on Spotify. The compositions being acquired were self-published by Wesley and, as such, the revenues generated will include publisher fees that the Company will now enjoy.
This is the Company’s largest IP acquisition to date and its fifth catalogue acquisition since the beginning of 2019, bringing the total combined value of acquisitions for the calendar year to US $6.85m (£5.70m). This deal continues One Media’s expansion and diversification through the acquisition of music IP rights, which have proven earnings history and potential for streaming revenue growth.
Classical music sales have risen 10.20% with streaming now accounting for 63% up 42% in 2018 and part of that growth is attributable to the booming Classical Crossover segment, which adopts strong classical influences and continues to be an accessible and popular sound, reaching out to wider audiences.
Philip Wesley is an award winning best-selling solo piano artist. His music has featured in radio, TV, film and print and can be found on many of today’s most popular platforms including Pandora, Spotify, iTunes, Amazon. His music is popular in the ‘New Age’ genre and has reached #1 on the iTunes charts, The Top 100 on Amazon, #1 on Amazon New Age Music, Best Seller at CD Baby, and on multiple Billboard Charts, including #2 (New Age Albums Chart) #12 (New Age Catalog Chart) and #14 (Billboard Heat Seekers Album Chart). Music reviewer ‘Reviews New-Age’ hailed Wesley’s ‘Dark Night of the Soul’, as one of the “50 Greatest New-Age Albums of All Time”.
Michael Infante, CEO of One Media, commented: “We are delighted to have acquired both the publishing and master rights to the entire catalogue of such a distinguished new age piano artist. This acquisition is our largest IP deal and is firmly in line with our strategy of acquiring catalogues with proven popularity, longevity and growth in streaming revenue.
“Contemporary classics have a steady position within the emerging streaming markets across all age genres. Wesley’s piano recordings are a fantastic addition to our collection, further broadening the range of One Media’s catalogue. His compositions continue to find success through the growth of streaming, proving particularly popular in playlists on the likes of Spotify and Pandora, however we intend to boost that success by actively exploiting the catalogue to ensure it is most effectively monetised.
“The Board sees further market opportunity to acquire attractive music rights which may add to our growing pipeline of potential deals.”
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
*Figures released by UK record labels association the British Phonographic Industry
|One Media iP Group Plc|
|Michael Infante - Chief Executive|
Ivan Dunleavy - Chairman
|+44 (0)175 378 5501|
+44 (0)175 378 5500
|Cairn Financial Advisers LLP (Nominated Adviser)||+44 (0)20 7213 0880|
|Panmure Gordon (UK) Ltd (Broker)||+44 (0)20 7886 2500|
|Yellow Jersey PR (PR & IR)||+44 (0)20 3004 9512|
About One Media iP Group Plc
One Media iP is primarily a music rights owner and digital distributor focused on the acquisition and exploitation surrounding recorded music, publishing, the writers shares of income and video intellectual property 'Rights'. The Company has a deep understanding of digital content and the various industry monetisation models and, as such, offers Rights Owners a route in which to divest their music IP holding and for investors to share in its potential success in corporate growth.
The Company is growing through targeted acquisitions of music content, expanding into various genres and territories that stand to see increased returns driven by the global growth of streaming. Its team of in-house creative technicians then ensure that its existing and newly acquired content reaches its full potential for monetisation, by digitising it and creating the highest quality metadata prior to ingesting to over 600 digital retailers such as iTunes, Spotify, Amazon, YouTube and Google Play globally. In addition the Groups music is widely used for synchronization in film, TV and digital gaming. The group also operates over 20 You Tube channels as a certified partner.
One Media has created and developed the Technical Copyright Analysis Tool (“TCAT”), a SaaS product monitoring where tracks appear, safeguarding copyright, and providing invaluable data regarding distribution opportunities for its creative technicians. This tool is not only employed for Company use but also licenced and operated in partnership with major music distributors and major record labels.
For further information: www.omip.co.uk