19 September 2019
One Media
iP Group Plc
("One Media", or the "Company")
Music Catalogue
Acquisition – Philip Wesley
One Media iP Group Plc (AIM: OMIP), the digital media content
provider that exploits intellectual property rights around music,
video and copyright technology, is pleased to announce that it has
acquired the entire music catalogue to date of American composer
and solo piano artist Philip Wesley,
for a total cash consideration of US $4.15m, satisfied upon full execution of the
agreement. An additional US $100,000
cash consideration will be payable on the date falling one year
from the date of execution of the agreement, subject to certain
deliverables contained within the agreement.
Philip Wesley’s solo piano recordings have won him acclaim since
his musical debut in 2002. His compositions have been played on
radio around the world, have featured in film and are listed on all
popular streaming platforms including Spotify, iTunes, Amazon and
Pandora.
One Media has acquired both publishing and master rights in the
72 recordings composed and performed by Wesley. In 2018 his
recordings were streamed more than 150 million times worldwide,
with the top ten tracks enjoying 68 million streams on Spotify. The
compositions being acquired were self-published by Wesley and, as
such, the revenues generated will include publisher fees that the
Company will now enjoy.
This is the Company’s largest IP acquisition to date and its
fifth catalogue acquisition since the beginning of 2019, bringing
the total combined value of acquisitions for the calendar year to
US $6.85m (£5.70m). This deal
continues One Media’s expansion and diversification through the
acquisition of music IP rights, which have proven earnings history
and potential for streaming revenue growth.
Classical music sales have risen 10.20% with streaming now
accounting for 63% up 42% in 2018 and part of that growth is
attributable to the booming Classical Crossover segment, which
adopts strong classical influences and continues to be an
accessible and popular sound, reaching out to wider audiences.
Philip Wesley is an award winning
best-selling solo piano artist. His music has featured in radio,
TV, film and print and can be found on many of today’s most popular
platforms including Pandora, Spotify, iTunes, Amazon. His
music is popular in the ‘New Age’ genre and has reached #1 on the
iTunes charts, The Top 100 on Amazon, #1 on Amazon New Age Music,
Best Seller at CD Baby, and on multiple Billboard Charts, including
#2 (New Age Albums Chart) #12 (New Age Catalog Chart) and #14
(Billboard Heat Seekers Album Chart). Music reviewer ‘Reviews
New-Age’ hailed Wesley’s ‘Dark Night of the Soul’, as one of the
“50 Greatest New-Age Albums of All Time”.
Michael Infante, CEO of One Media, commented:
“We are delighted to have acquired both the publishing and
master rights to the entire catalogue of such a distinguished new
age piano artist. This acquisition is our largest IP deal and is
firmly in line with our strategy of acquiring catalogues with
proven popularity, longevity and growth in streaming
revenue.
“Contemporary classics have a steady
position within the emerging streaming markets across all age
genres. Wesley’s piano recordings are a fantastic addition to our
collection, further broadening the range of One Media’s catalogue.
His compositions continue to find success through the growth of
streaming, proving particularly popular in playlists on the likes
of Spotify and Pandora, however we intend to boost that success by
actively exploiting the catalogue to ensure it is most effectively
monetised.
“The Board sees further market
opportunity to acquire attractive music rights which may add to our
growing pipeline of potential deals.”
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
*Figures released by UK record labels
association the British Phonographic Industry
One Media iP Group Plc |
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Michael Infante - Chief
Executive
Ivan Dunleavy - Chairman
www.omip.co.uk |
+44 (0)175 378 5501
+44 (0)175 378 5500 |
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Cairn Financial Advisers LLP (Nominated
Adviser) |
+44 (0)20 7213 0880 |
Liam Murray
Jo Turner
Ludovico Lazzaretti |
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Panmure Gordon (UK) Ltd (Broker) |
+44 (0)20 7886 2500 |
James Stearns |
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Yellow Jersey PR (PR & IR) |
+44 (0)20 3004 9512 |
Charles Goodwin
Dominic Barretto |
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About One Media iP Group Plc
One Media iP is primarily a music rights owner and
digital distributor focused on the acquisition and
exploitation surrounding recorded music, publishing, the writers
shares of income and video intellectual property 'Rights'. The
Company has a deep understanding of digital content and the various
industry monetisation models and, as such, offers Rights
Owners a route in which to divest their music IP holding
and for investors to share in its potential success in corporate
growth.
The Company is growing through targeted acquisitions of music
content, expanding into various genres and territories that stand
to see increased returns driven by the global growth of streaming.
Its team of in-house creative technicians then ensure that its
existing and newly acquired content reaches its full potential for
monetisation, by digitising it and creating the highest quality
metadata prior to ingesting to over 600 digital retailers such as
iTunes, Spotify, Amazon, YouTube and Google Play globally. In
addition the Groups music is widely used for synchronization in
film, TV and digital gaming. The group also operates over 20 You
Tube channels as a certified partner.
One Media has created and developed the Technical Copyright
Analysis Tool (“TCAT”), a SaaS product monitoring where tracks
appear, safeguarding copyright, and providing invaluable data
regarding distribution opportunities for its creative technicians.
This tool is not only employed for Company use but also licenced
and operated in partnership with major music distributors and major
record labels.
For further information: www.omip.co.uk