Round Hill Music Royalty Fund (RHM) Limited has acquired a catalog from Tim Palmer, a British record producer, guitarist and songwriter of rock and alternative music.
The catalog includes 30 songs covering tracks from the Pearl Jam album Ten, and producer and publishing royalties for Ozzy Osbourne’s album Down to Earth.
RHM’s acquisition of the catalog includes 100% of the mixer royalty income for the master recording rights on Pearl Jam’s album Ten, and 100% of the producer income for the master recording rights on Down to Earth.
It also includes 100% of the publishing interest (including writer’s share) in six of the eleven tracks on Down to Earth.
Ten is Pearl Jam’s debut album, selling over 25 million records worldwide and has been certified Diamond and 13x Platinum by the Recording Industry Association of America.
The album contains some of their most popular songs such as Even Flow, Black and Jeremy.
The catalog also includes hits such as Alive, which received a certification from the British Phonographic Industry, going Silver in August 2018 for sales and streams of over 200,000;
Down to Earth, the album by Ozzy Osbourne, reached No. 4 on the Billboard Charts and 18 in the UK. It was certified Platinum in the US and Gold in UK.
Overall, the catalog includes 6 No.1s and 20 Top 10s.
Tim Palmer is best known for his role in mixing Pearl Jam’s album Ten, which reached No.2 on the Billboard 200 in 1992.
The album produced three hit singles: Alive, Even Flow and Jeremy.
Jeremy became one of Pearl Jam’s best-known songs and received nominations for Best Rock Song and Best Hard Rock Performance at the 35th Grammy Awards.
Over his expansive career, Palmer has worked with a number of other influential rock and alternative artists including U2, Robert Plant, Tears for Fears, David Bowie and Ozzy Osbourne, for whom he produced and wrote on the Platinum-selling album Down to Earth.
According to RHM, the publishing share of the catalog offers exposure to a global audience, with 27% of revenue derived from outside of the US.
The revenue from master recording rights comprises 82% of catalog earnings, with publishing earnings accounting for 3%, and other sources comprising 15%.
The catalog revenues are focused towards the top tracks, with the Top 3 Songs accounting for 45%, Top 5 Songs accounting for 66% and Top 10 Songs accounting for 82% of revenues.
All figures above are based on the catalogs royalty statement in the calendar year 2020.
“We are very pleased to announce this high-quality catalog of excellent songs including timeless rock and alternative tracks from two of the world’s most well-known artists.”
Trevor Bowen, Round Hill Music Royalty Fund
Trevor Bowen, Chair of Round Hill Music Royalty Fund, said: “We are very pleased to announce this high-quality catalog of excellent songs including timeless rock and alternative tracks from two of the world’s most well-known artists.
“The Board is pleased to be utilising the RCF and C Share placing proceeds to further expand the Company’s portfolio of diverse catalogs. The Company’s investment pipeline remains strong with a number of identified near-term opportunities in exclusivity.”
“Tim Palmer is a well-renowned record producer who has mixed and produced some of the most iconic rock and alternative albums and songs over the past four decades.”
Josh Gruss, Round Hill
Josh Gruss, Chairman and CEO of Round Hill, the Company’s investment manager, added: “Tim Palmer is a well-renowned record producer who has mixed and produced some of the most iconic rock and alternative albums and songs over the past four decades.
“This investment echoes our strategic objective of purchasing royalty rights to classic songs that have proven their ability to produce long-term, steady royalty revenues over the decades, while acquiring the catalogs at attractive valuations.”
“Signing to Round Hill is a very unique opportunity for me, and Josh and his team have already shown how much they love and respect the music. I am proud to be part of their ever-expanding family.”
Tim Palmer
Tim Palmer said: Last year I celebrated my fifth decade either producing or mixing a UK Top 10 album, and after 40 years of working in the business, I am excited to venture into something that feels like a new chapter.
“Signing to Round Hill is a very unique opportunity for me, and Josh and his team have already shown how much they love and respect the music. I am proud to be part of their ever-expanding family.”
Today’s news follows Round Hill Music Royalty Fund’s recent acquisition of the master royalty income of Dennis Elliott, the original drummer of the rock group Foreigner.Music Business Worldwide
