Blackstone explores $3 billion sale of music rights portfolio – Bloomberg

Investing.com– Blackstone Inc (NYSE:BX) is contemplating the sale of its SESAC-managed track rights portfolio, together with works by Bob Dylan, Adele, and Ariana Grande, in a deal that might exceed $3 billion, Bloomberg Information reported on Thursday citing sources.

The transfer comes amid sturdy investor curiosity in efficiency rights property, with companies like Apollo International Administration LLC Class A (NYSE:APO), Warburg Pincus, and Singapore’s Temasek Holdings reportedly exploring bids, the report mentioned.

SESAC, acquired by Blackstone in 2017 for about $1 billion, licenses music for public performances, together with fashionable tv exhibits like Gray’s Anatomy and Seinfeld, and likewise manages entities just like the Harry Fox Company and Audiam.

The music trade’s progress, fueled by streaming revenues that doubled international recorded music income to $28.6 billion in 2023, has made property like SESAC more and more precious. Current market exercise consists of TPG Inc ‘s (NASDAQ:TPG) $3.3 billion sale of International Music Rights (GMR) and Blackstone’s $1.6 billion buy of Hipgnosis, indicating the excessive demand for music-related investments, the report said.

Monetary companies proceed to diversify their investments within the music sector, concentrating on efficiency rights organizations, catalogs, and companies as they adapt to the trade’s evolving income panorama, in accordance with the Bloomberg report.