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Largest Music Agreements of 2024

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Largest Music Agreements of 2024

What could have been a quiet year turned into a vibrant one, marked by a variety of significant deals, ranging from impressive catalog purchases to high-value asset-backed securities transactions.  Illustration by Alexis Cook As the music sector adapted to the post-pandemic landscape and the peak period of IPOs faded into memory, 2024 seemed poised to […]

What could have been a quiet year turned into a vibrant one, marked by a variety of significant deals, ranging from impressive catalog purchases to high-value asset-backed securities transactions. 

Year End catalog deals

Illustration by Alexis Cook

As the music sector adapted to the post-pandemic landscape and the peak period of IPOs faded into memory, 2024 seemed poised to be an uneventful year for financial dealings. However, that was not the case. It turned out to be filled with substantial transactions that reshaped the music industry’s framework.

Concurrently, many of the significant transactions were expected. Two prominent catalog sales — those of Pink Floyd and Queen — had been on the market since 2022 and 2023, respectively. The acquisition of BMI by private equity firm New Mountain Capital was anticipated; Billboard reported last August on the U.S. performing rights organization’s intent to sell, with the agreement made in November 2023 although the deal officially closed this year. Additionally, due to the demand for asset-backed securities (ABS) in 2024’s high-interest scenario, major ABS transactions were bound to occur before year’s end.

Several noteworthy deals also transpired outside the top twelve. Universal Music Group and Warner Music Group engaged in a buying frenzy, acquiring distributors and record labels while targeting emerging markets. Artists, songwriters, and producers sold their rights — frequently including their name and likeness — to a diverse range of traditional and financial buyers. The multitude of financing options available today created a long tail of transactions, both significant and minor. JKBX was unveiled in 2024, providing investors with another venue to purchase shares of song rights. Meanwhile, distributors and financial services companies like beatBread and RoyFi offered royalty advances that most artists struggled to secure from conventional banks.

Here, Billboard showcases the twelve most significant deals — those that officially finalized — of the year, organized by financial worth. The majority are acquisitions, with a few being solely financial transactions supported by music royalties, which will fund further acquisitions that yield additional royalties.

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