Primary Wave Music has recently struck two new catalog deals for a combined $60 million.
Firstly, the firm has spent $20 million on a stake in Paul Rodgers’ music publishing catalog for Free and Bad Company, as well as his master recording income streams for both bands.
Secondly, Primary Wave has acquired Gerry Beckley’s and Dewey Bunnell’s rights in the America music catalog, in a deal worth $40 million.
The value of both acquisitions were reported by the Wall Street Journal, which, citing people close to the deals, states that both took place in 2021.
The WSJ also reports that Primary Wave, which has over $1 billion to spend on music rights, “is gearing up to spend $500 million to $600 million” this year.
The firm’s acquisitions also include rights to music by TOTO drummer Jeff Porcaro, Survivor’s Jim Peterik, and The Waterboys’ Mike Scott, while additionally acquiring the legendary Sun Records label.
Rodgers is a singer, songwriter, and multi-instrumentalist, who, since starting his career in 1968, has written, recorded, released, and produced 30 albums and has sold 90 million albums.
Over the course of his five-plus decade career, he has formed and led several bands, including Free and Bad Company, to worldwide success.
According to Primary Wave, terms of the deal with Rodgers will also see him create an imprint to be distributed by Sun Records where he will co-sign new artists and curate compilations for the legendary record label.
Primary Wave bought Sun Records in a $30 million deal, which included masters for Johnny Cash and Jerry Lee Lewis, in January 2021.
Songs included in Primary Wave’s deal with Rodgers include hits for Free and Bad Company such as Feel Like Makin’ Love, Shooting Star, Wishing Well, Fire & Water and more.
In 1970, Free’s All Right Now shot straight to the top of the charts in more than 20 countries. The band’s six studio albums, as well as multiple live recordings and compilation albums, helped Free become one of the highest grossing British acts in the world.
Rodger’s formed Bad Company with guitarist Mick Ralphs in 1973. The Grammy nominated Bad Company had several albums in the Top 5 and would go on to sell over 40 million albums worldwide.
Meanwhile, Primary Wave’s deal for Gerry Beckley’s and Dewey Bunnell’s rights in the America music catalog also includes several re-records that encompass some of the London-born band’s biggest hits, as well as certain name and likeness rights.
Included in the deal are some of the band’s biggest hits written by Beckley and Bunnell such as Sister Golden Hair,Ventura Highway, and Tin Man.
According to Primary Wave, additional deal terms will now see Gerry Beckley and Dewey Bunnell gain access to Primary Wave’s entire marketing team, digital team, branding team and publishing infrastructure which includes licensing and sync opportunities.
Also included in the deal is the band’s hit A Horse With No Name.
Released in 1971, A Horse With No Name was the band’s first and most successful single. The song hit No.1 on the Billboard 100, staying there for three weeks, and would go on to be certified platinum.
In 1972 the single was nominated for a Grammy Award in the category of Best Pop Vocal Performance by A Duo, Group or Chorus and helped them win the award for Best New Artist.
“Innovative, hardworking, cutting edge and courageous are just some of the adjectives that define Primary Wave.”
Paul Rodgers
Paul Rodgers said: “Innovative, hardworking, cutting edge and courageous are just some of the adjectives that define Primary Wave.
“Given their deep knowledge of my catalog, joining forces with them seems a natural progression, to ensure that the messages and the music live on for the fans.”
“Now that Paul has expanded his partnership with Primary Wave, everything in the world is All Right Now.”
Larry Mestel, CEO & Founder, Primary Wave Music, said: “Paul Rodgers is one of, if not the greatest, singer in rock history.
“Now that Paul has expanded his partnership with Primary Wave, everything in the world is All Right Now.”
“We are pleased that our catalog is now in the able hands of the good folks at Primary Wave, where the music we have created over the last 50 years will be given new attention and exposure.”
Dewey Bunnell
Dewey Bunnell said: “We are pleased that our catalog is now in the able hands of the good folks at Primary Wave, where the music we have created over the last 50 years will be given new attention and exposure.
“We are proud of the music we produced across these decades, and look forward to watching the catalog continue to enhance listeners’ lives for generations to come through the vision and actions of Primary Wave. Meanwhile, we continue to actively pursue our careers as songwriters and performers into the 21st Century.”
Adam Lowenberg, Chief Marketing Officer at Primary Wave Music, said: “It is an honor and a thrill to add the greatness of America and the songs of Gerry and Dewey to the icons and legends of Primary Wave.”
“The songs of AMERICA were the cornerstone of my youth. You could not turn on the radio without hearing one of their classic rock hits.”
Barbara Rose, Primary Wave
Barbara Rose, Partner in Primary Wave Music’s management division, said: “The songs of AMERICA were the cornerstone of my youth. You could not turn on the radio without hearing one of their classic rock hits.
“Fifty years later, these songs still resonate with positive and uplifting memories of a time gone by. We are excited to work with Gerry and Dewey and their team on preserving these memories for future generations.”
MBW estimates that at least $5 billion was spent on music rights acquisitions in 2021.Music Business Worldwide
