The composer catalog acquisition market is an unconventional development in a business that already lacks convention compared to other acquisition businesses. Howard is one of the more celebrated composers in film history, but such a deal could suggest that the most valuable works from industry legends like John Williams or Hans Zimmer - who’ve scored many of the most lucrative film franchises of the past 50 years - would likely fetch hundreds of millions. While it hadn’t previously been disclosed how much Multimedia Music spent on the catalog, as Rolling Stone has learned, the company paid in the mid-eight-figures.
“It’s a few years behind, but the buying space in the commercial world has certainly triggered a response from the film and TV community to say, ‘why don’t we start thinking about this too? If big pop writers can do this, why can’t I?’”īut Howard’s catalog, which includes the music for franchise blockbusters such as The Dark Knight, King Kong, and Fantastic Beasts and Where to Find Them along with scores to classics like Pretty Woman, is by far the most notable purchase from Multimedia Music thus far. The market to sell is similar,” says Phil Hope, Multimedia Music’s co-founder and CEO. “Composers are seeing the same incentives as the commercial songwriters. The composers behind the music for iconic films and TV shows such as The Dark Knight, Guardians of the Galaxy, Jason Bourne and Glee have all sold their works in recent months, fetching millions of dollars as music-makers take an immediate cash payout rather than roll the dice on what their music will earn in the coming years.Īmong those at the forefront of these deals: Multimedia Music, a six-month old music acquisition and production company whose owners say they want their business to become “the biggest film and TV music company in the world.” Now the trend is making its way beyond commercial pop and rock to film scores. For the past several years, high demand for intellectual property and deep pockets have fueled a catalog acquisition boom that’s inspired Bob Dylan, Justin Timberlake, Bruce Springsteen and more to sell off their lifetime musical legacies for record-setting cash returns in the hundreds of millions.
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