Universal Music Group’s latest catalogue acquisition is focused on a music company rather than an individual artist or songwriter.
It is buying 70% of the catalogue of Thai music firm RS Group, with Variety reporting that the deal is worth an initial $45m, with earn-out payments potentially raising that by another $4.9m.
The deal will see UMG become RS Group’s exclusive ‘music service partner’ for new releases and repertoire worldwide, including having first dibs on acquiring those additions to the catalogue.
UMG’s Calvin Wong said that the deal “will provide UMG with the scale to make a meaningful impact within the Thai music ecosystem and to benefit from its continued growth”.
According to the IFPI, Thailand was the world’s 24th biggest recorded music market in 2022. Its revenues grew by 20% year-on-year to $105.4m – 90.8% of which came from streaming.
This story was corrected on 3 July 2023: the potential earn-out payments are $4.9m, not $44.9m.
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