Greatest Day: One Media IP snaps up Take That producer royalties
One Media IP Group has bought the producer royalties of a selection of tracks by pop group Take That from British producer Ian Levine.
The Aim-listed company said the tracks included “A Million Love Songs” and “I Found Heaven” from Take That’s 1992 album for an undisclosed sum.
The group has also bought the producer royalties of two other recorded Take That tracks which have never been released.
The pop group, led by Gary Barlow, achieved 28 top 40 singles and 17 top 5 singles in the UK Singles Chart since its formation in 1990.
“2021 has got off to an excellent start for One Media with our acquisition of the producer royalties of these Take That smash hits from Ian Levine, with whom we have worked closely since 2006 after signing our first digital deal for his Motorcity Records and Hi-NRG and Pop recordings,” One Media IP’s chief executive Michael Infante said.
The acquisition was completed through the distributor’s Harmony IP asset release programme, which allows royalty holders advanced access to the future earnings by purchasing a portion of the rights upfront.
“Given the current global crisis and corresponding impact on the live music sector, we have found an increasing number of artists are evaluating alternative income opportunities and are looking favourably upon our initiative,” Infante added.
In August One Media IP launched a £6m fundraising round which was said to be an oversubscribed share pricing to fund more acquisitions and expand is digital asset holdings.