Music Publishing News Weekly Roundup 8.1.14: SESAC Expands, Pharrell, Three Six Zero & More
SESAC plans to expand by hiring new chairman and CEO John Josephson. As Co-founder of Downtown Music LLC, former managing director to Allen & Co, and 22 year SESAC board member, Josephson plans to expand the business beyond traditional performing rights. With US PRO’s facing potential withdrawal from major publishers, SESAC predicts these companies will be looking for other options. With a reported $35 Million offer to Harry Fox Agency, SESAC hopes to expand their services to mechanical royalties. This is something ASCAP and BMI cannot do due to consent decrees. SESAC has also acquired a major stake in licensing platform Rumblefish, paying a reported $15 Million for expanded rights. Being the only invitation-only PRO in the US, SESAC will also continue to acquire premium catalogs. Recent acquisitions include Kurt Cobain and Mariah Carey.
Pharrell Williams will join Ryan Tedder at Global Music Rights. The boutique, invitation-only Performing Rights Organization that launched earlier this year, will bring on the writer of hits such as “Get Lucky”, “Blurred Lines”, and “Happy” effective October 1st, 2014. Launched earlier this year, Global Music Rights backed by Azoff MSG Entertainment is attempting to collect additional royalties that major PRO’s may be missing. This signing follows the recent signing of songwriter Ryan Tedder who earned a reported $2.5 million in 2013 from songs he wrote for Beyonce, Maroon 5, Demi Lovato, and Ellie Goulding.
Entertainment group Three Six Zero has launched a new publishing division and record label. Partnering with Warner Bros Records and Warner/Chappell, founders Mark Gillespie and Dean Wilson will serve as head of A&R and Jessica Wilson will be promoted to VP of Music. The company currently represents artists such as Calvin Harris, Nero, and Kate Nash.