Litmus Music has officially acquired the recorded catalog of Keith Urban in its first deal since arriving on the scene earlier in 2022.
Founded by music industry vets Hank Forsyth and Dan McCarroll, Carlyle Global Credit-backed Litmus set sail in August with $500 million to invest in music IP. And now, the New York- and Los Angeles-based company has bought the recordings of 55-year-old Keith Urban, higher-ups announced today.
Though the (likely sizable) financial terms of the deal haven’t been publicly revealed, the transaction appears to encompass recordings from throughout the career of the New Zealand native Urban, who debuted with an eponymous album in 1991.
Since then, the four-time Grammy winner (and 19-time nominee) has released 10 additional studio albums, the most recent of which, The Speed of Now Part 1, became available to fans in September of 2020. Among the former Ranch member’s most popular tracks are “Somebody Like You,” “Blue Ain’t Your Color,” and “One Too Many,” to name just some.
Moving forward, Litmus Music intends to “continue to collaborate in close partnership with Urban and his management team Borman Entertainment” as the veteran singer-songwriter works on his 12th solo studio album, which is expected to release in 2023.
Addressing the catalog sale in a statement, Keith Urban emphasized that Litmus is a “great fit” for him and his body of work.
“What makes this such a great fit for me, is the genuine passion and respect Dan, Hank and the team at Litmus have for this music,” said Urban, who boasts 7.39 million monthly listeners on Spotify. “In working with them, I feel that same collaborative spirit that’s always inspired me as an artist.”
And in a statement of his own, Litmus co-founder and CEO Hank Forsyth said: “It is an honor to partner with Keith and represent songs that reflect his integrity, character and musicianship. Dan and I and the entire Litmus team are so grateful Keith has trusted us to care for what he has given so much to create.”
It’s hardly a secret that 2022 has delivered a number of music-IP investments despite rising rates and economic turbulence, but country artists in particular have closed several noteworthy catalog sales.
Besides this latest deal for the masters of Keith Urban, Reservoir kicked off 2022 by purchasing the recorded and publishing catalogs of Travis Tritt. Meanwhile, Jason Aldean in February sold his recordings to Spirit Music Group in a reportedly $100 million transaction, whereas HarbourView Equity Partners finalized song-rights plays involving the IP of Lady A and Brad Paisley over the summer.
More recently, Blake Shelton in October sold his recorded catalog to Influence Media Partners and formed a joint venture with the entity.