James Newton Howard Film Score Catalog Acquired By Multimedia Music In Wake Of $100M Fundraising
deadline.comEXCLUSIVE: Amid a streaming-spurred frenzy for music catalog rights, Multimedia Music has acquired film and TV scores from nine-time Oscar nominee James Newton Howard.Pricing for the catalog deal was not specified by the parties, but the transactions follows a $100 million funding round by Multimedia.
The company, with offices in LA and London, is led by industry veterans Phil Hope and James Gibb in partnership with Atlantic Screen Music.
Plans call for the funds raised from Metropolitan Partners Group and Pinnacle Bank to go toward acquisitions of other film and TV catalogs from composers, production companies or other rights holders.With streaming music experiencing a boom, a string of deals have been sealed in recent months for the catalogs of major artists like Bruce Springsteen, Bob Dylan, James Brown and many others.
Valuations for the priciest of those transactions, many of which include publishing rights, have surpassed $500 million. Film and TV scores offer the additional dimension of being a key building block for screen franchises, which are seeing an explosion of demand and a flurry of M&A deals of late.Howard has scored more than 140 film and TV projects, with box office revenue from his film work exceeding $15 billion.
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