A live efficiency from Juice WRLD, whose work becomes part of the Opus Music Group brochure. Picture Credit: Andy Jones
Litmus Music has actually relatively scooped up Opus Music Group, the home of Juice WRLD, Ozuna, and Maluma tune rights.
Word of the offer emerged just recently in a since-deleted LinkedIn post penned by Truist Securities handling director Charles Johnson. According to that message, which was pulled simply minutes after DMN connected to Litmus for remark, Truist in July acted as lead bookrunner and left lead arranger on an upsized Litmus credit center.
Amounting to $400 million (up from $250 million), the center was “utilized to fund the purchase of Opus Music Group,” per the text, which likewise define that “Truist Securities worked carefully with existing loan providers to satisfy the timeline of the Opus acquisition closing while presenting brand-new issuer-friendly terms that supply Litmus the versatility to perform their development efforts.”
At the time of this writing, Litmus, which in 2023 invested a reported $225 million on Katy Perry's brochure, had not reacted to an ask for remark. It, Opus (the site of which was still live), and Truist alike didn't appear to have actually put out releases relating to the topic.
It's been one year because the Katy Perry offer was revealed, and Billboard has actually reported that Opus, regardless of showing a starting year of 2022 on LinkedIn, began checking out a brochure sale in April.
As explained in various reports, it remained in or around the top of 2022 that Elliott Investment-powered Opus obtained Juice WRLD's music IP.
To name a few things, the reported Opus Music purchase highlights the substantial capital that's still flying around the brochure arena regardless of more comprehensive financial issues and a surrounding focus on money.
Last month, after Calvin Harris' $100 million brochure altered hands in July, Iconoclast settled an offer (one element of a wider concentrate on reggae) with Half Pint, and James Fauntleroy offered to HarbourView Equity Partners.
With that stated, the IP sub-sector hasn't lacked turbulence– see the Barry Manilow v. Hipgnosis face-off and the opposition of Michael Jackson's household to a $600 million pact with Sony Music– since late.
Closing on a more favorable note, the area's myriad offers are, naturally, introducing aggressive efforts to generate income from the included works. Cinq Music today connected with word of Daddy Yankee's “first-ever vinyl drop,” under which tasks consisting of Barrio Fino are set to appear to fans next month. A 2nd drop is anticipated to follow (with 3 different vinyl albums) in November for Cinq, which in May purchased Flow La Movie's brochure.
