Concord Raises $850M Through Music Catalog-Backed Notes, Solidifies Industry Position
Concord has successfully issued $850 million in senior notes, secured by royalties from their extensive music catalog containing over one million songs. The five-year notes are backed by works from renowned artists including the Beatles, Phil Collins, and Genesis.
Plain White T's performing on stage
Key points about the securitization:
- Total music IP valuation: Approximately $5.1 billion
- Duration: Five-year notes
- Lead structurer: Apollo Global Securities
- Backup manager: FTI Consulting
- Recent significant acquisition: Portion of Daddy Yankee's catalog
- Previous major acquisitions: Mojo Music & Media and Round Hill buyouts (totaling $606.3 million)
The company plans to use the capital for additional acquisitions and strategic growth. Concord is also expanding its physical presence with a new 32,241-square-foot office space in Beverly Hills, scheduled to open in Q3 2025.
Bob Valentine, Concord's head, described the securitization as "another significant milestone" and emphasized the company's commitment to supporting artists and their creative work. The move reinforces Concord's position as a major force in the music industry, following their recent attempts to acquire Hipgnosis Songs Fund.
The securitization represents part of Concord's broader strategy to grow and monetize its music assets while strengthening its position in the industry.
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