Warner Music Group (WMG), a global music entertainment company, and Bain Capital, a global private investment firm, have announced a joint venture to purchase up to $1.2 billion of legendary music catalogs across both recorded music and music publishing.
The partnership was formed through equal equity commitments from WMG and Bain Capital.
This new strategic venture will provide artists and songwriters with opportunities to preserve and expand the reach of their catalogs. WMG and Bain Capital will together source and acquire the catalogs, while WMG will manage all aspects of marketing, distribution, and administration.
Robert Kyncl, CEO, Warner Music Group, said, “Iconic artists and songwriters choose WMG to grow their legacies and introduce their art to new generations through impactful and innovative campaigns. Augmenting our deep expertise and global infrastructure with Bain Capital’s financial prowess and belief in music will make us the destination of choice for preeminent catalogs.”
Angelo Rufino, a Partner at Bain Capital, said, “Timeless music content continues to sit at the center of consumer entertainment. Stewardship of catalogs has never been more important as artists and songwriters deserve support to enhance the value of their work while delivering fans new and exciting collaborations. Warner Music Group, with its deep creative resources and partnership culture, is the ideal partner for Bain Capital to work alongside as we grow and safeguard the world’s iconic music.
