MusicBird AG (“MusicBird” or the “Company”) announces $100 Million term loan facility to fund further music rights deals.
Today (9th Feb) the music rights investment company MusicBird is pleased to announce it has signed a Term Loan Facility with capacity up to $100 million with MUFG (Mitsubishi UFJ Financial Group).
MusicBird entered the music rights acquisition space in 2021 on a mission to build a highly selective portfolio of “evergreen” hit songs, focusing on a diverse range of genres and geographies and working across the music and tech ecosystem to grow music revenues.
The Company's current catalogue includes the publishing rights of world class songwriter J.R. Rotem (including songs by Rihanna, Jason Derulo, Fall Out Boy, Iyaz and Sean Kingston) and the master income and publishing rights of multiple Grammy Award winning artist Shaggy (including “It Wasn't Me”, “Angel” and “Boombastic”).
This major financing deal is a key step inMusicBird’s next phase of growth as it looks to scale its music rights portfolio in the coming months. The deal was led by recently appointed CEO, Paul Brown (ex-Spotify, Sony Music and Disney) and CFO, Roger Howl (ex-SonyMusic, EMI and Hipgnosis Songs Fund).
Paul Brown, CEO of MusicBird said:
“We are delighted to be working closely with the MUFG team as we grow our business and continue to pursue our strategy of acquiring diverse music rights in collaboration with incredibly talented songwriters, artists and partners across the industry. Our team is passionate about building a collection of iconic songs which have stood the test of time and continue to delight fans.”
Tony Beaudoin, Managing Director ofEntertainment Finance at MUFG said:
“MUFG is thrilled to lead the senior debt facility for MusicBird, which will allow the company to expand its catalog acquisition initiative of valued music rights. Paul and Roger bring trusted experience in the music space to the company and MUFG is confident in their ability to grow MusicBird’s IP library.”