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(Alliance News) - One Media IP Group PLC on Wednesday said it has acquired the licensor's share of the royalties to the 21 Vision catalogue of rights
The digital music rights acquirer, publisher and distributor noted that since 2009, the 21 Vision catalogue has been licensed to One Media on a royalty-sharing basis.
As part of the deal, One Media has now acquired the licensor's royalty share of the catalogue on an in perpetuity basis, allowing the company to continue to profit from the catalogue via all of its digital mediums and collect all revenues associated with the licence.
One Media said the catalogue contains over 2,000 works from musicians over the last seven decades including rare music concerts and live recordings performed by artistes such as Glenn Millar, The Andrews Sisters, The Ink Spots, Vera Lynn, Count Basie, Flanagan & Allen and Cole Porter. It noted the audience for the music now makes up 29% of digital streaming consumers according to data from German market and consumer data company Statista.
"By buying out the licensor's royalty share, One Media secures the rights to the catalogue on an in-perpetuity basis, whilst also increasing its margin by taking a bigger share of the royalty," said Chief Executive Michael Infante.
Shares in One Media IP were trading 5.3% higher at 7.90 pence each on Wednesday morning in London.
By Ife Taiwo; ifetaiwo@alliancenews.com
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