Lyric Capital Group is the owner of independent publisher Spirit Music Group, having led a buyout of the company in 2019. Now it is gearing up for the next round of music catalogue buy-ups with $500m of investment.
The funding was led by investment firm Northleaf Capital Partners, working with Caisse de dépôt et placement du Québec (CDPQ).
“This strategic alliance allows us to continue to anticipate our clients’ needs in a constantly evolving market and accelerate our growth strategy of investing in iconic catalogs, elevating new music and serving the needs of the songwriters who entrust us with their life’s work,” said Lyric Capital managing partner Jon Singer.
Spirit already has a catalogue of more than 100k songs, but the investment should enable it to swell that number in what remains an increasingly competitive market for buying up rights.
Tools: platforms to help you reach new audiences
Tools :: Wyng
Through Music Ally’s internal marketing campaign tracking, we’ve recently discovered an interesting website by the…