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Global Music Rights Majority Ownership Officially Changes Hands
Global Music Rights' majority ownership officially changed hands after a deal valuing it at $3.3 billion closed just before Christmas, sources say.
Those traits have made performance rights organizations ripe targets for private equity funds interested in investing in music. While ASCAP and BMI operate under U.S. Department of Justice consent decrees and must accept any songwriter who applies as a member, SESAC and GMR are invitation-only societies. That roster includes the likes of Bad Bunny, Billie Eilish, Billy Idol, Bob Seger, Bob Scaggs, Bruce Springsteen, Bruno Mars, Bryan Adams, Drake, Eddie Vedder, George Harrison, George Michael, Glenn Frey, Gwen Stefani, Harry Styles, Ira Gershwin, James Hetfield, John Lennon, Jon Bon Jovi, Lizzo, Nicki Minaj, Pete Townshend, Philip Lawrence, Post Malone, Prince, Ryan Tedder, Shane McAnally, Shawn Mendes, Slash, Smokey Robinson, Stephen Stills, Steve Miller, The Weeknd, Travis Scott and YoungBoy Never Broke Again, among others.
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