Round Hill Music Royalty fund agrees to administer neighbouring rights income from Supertramp catalogue

The catalogue comprises 39 original recordings by the band, including “The Logical Song”, “Take the Long Way Home”, “Breakfast in America”, “Goodbye Stranger” and “Give a Little Bit”, while the deal relates to songs from the catalogue of long-time band members Douglas Thomson, Bob Siebenberg and John Helliwell.

The company said it is unable to disclose financial details for each acquisition or deal as it occurs “due to commercial sensitivities”.

But the board stated that on completion of the investment of proceeds from the C Share fundraise of $86.5m, together with the remaining undrawn balance of its existing revolving credit facility, further financial disclosures will be made.

Round Hill Music Royalty fund diversifies exposure with acquisition of The O’Jays’ catalogue

Trevor Bowen, chair of the Round Hill Music Royalty fund, said: “We are delighted to administer the neighbouring rights income from Supertramp’s biggest hits from the catalogue of these three long-time band members.

“These are timeless and iconic songs that have huge income-generating potential, creating strong returns for shareholders and adding depth to the progressive pop/rock genre in the company’s portfolio.”

Supertramp was formed in London in 1969 by Roger Hodgson and Rick Davies.

According to Round Hill, Supertramp’s biggest hit, “The Logical Song”, went to number one in the music charts in Canada, charted at number seven in the UK and on the US Billboard chart sat at number six.

Josh Gruss, chairman and CEO of Round Hill, the company’s investment manager, called Supertramp a “globally-known band with a vast catalogue of stable, income-generating songs that multiple generations will recognise and listen to”.

Supertramp said: “Three of us from Supertramp — Dougie Thomson, Bob Siebenberg and John Helliwell — of the classic 70s and 80s line-up, are pleased to announce that we have come to an agreement with Round Hill for a long-term agreement to administer our future neighbouring rights income.”

Most Related Links :
todayuknews Governmental News Finance News

Source link

Back to top button