Business
Acquisition of Rights
Acquisition of Rights.
About this update from One Media Ip Group Plc
[{"type":"text","content":"\n\n5 September 2023\n \nOne Media iP Group Plc\n(\"One Media\", the \"Group\" or the \"Company\")\n \nOne Media acquires licensor's income share of Entertain Me catalogue including songs by Gloria Gaynor, The Drifters, Louis Armstrong, Don Williams and James Brown\n \nOne Media iP (AIM: OMIP), the digital media content provider which specialises in the active monetisation of music and video intellectual property rights together with copyright protection technology, has acquired the licensor's income share only of the 'Entertain Me' catalogue of rights (the 'Catalogue') on an in-perpetuity basis.\n \nThe transaction, which is a material acquisition for the Company and was funded through existing cash resources, is immediately income accretive and will enhance both revenues and portfolio NAV. In line with management's expectations and the Company's business plan, it was completed at an advantageous earnings multiple.\n \nComprising more than 15,000 tracks, the Catalogue includes songs performed by a wide range of high profile and enduring artists such as Dean Martin, The Drifters, Don Williams, Gloria Gaynor, James Brown, Judy Garland, Jose Carreras, Ray Charles, Jacki Wilson, the Royal Philharmonic Orchestra, The New England's Children's Choir and Louis Armstrong. The vintage of the Catalogue's songs range from the 1940's to the 1970's and it is also diversified by genre, including classical, blues, country, children's music, lullabies, jazz, swing and disco. \n \nThe transaction therefore supports the Company's strategy of owning and managing evergreen music rights that have a proven track record of delivering long term, recurring income, as well as opportunities to extract additional value via the Company's deep expertise in rights management.\n \nIt was undertaken via One Media's Harmony IP asset release programme, which allows music rights holders advanced access to the future earnings of their intellectual property by purchasing a portion of their rights upfront. The initiative is open to all of the Company's licensor partners and allows One Media to increase its profitability using its resources to acquire additional royalty streams. \n \nSince 2009, the Catalogue has been distributed by the Group's preferred and long-term distribution partner, The Orchard, which continues ...