Peermusic CEO Mary Megan Peer and executive chair Ralph Peer II. Photo Credit: Melody Rae
Peermusic has officially announced the acquisition of Oslo-headquartered publisher Arctic Rights Management.
Berkeley-based Peermusic reached out to Digital Music News this morning with word of its latest investment. As described by the purchasing party, the deal extends to “the publishing rights to Arctic Rights Management’s 5,000+ recordings and compositions.”
The transaction – the financial terms of which haven’t been publicly disclosed – also encompasses interests in tracks performed by commercially prominent acts like Dua Lipa (“Don’t Start Now” and “New Rules”), Katy Perry (“365”), Selena Gomez (“Let Me Get Me”), the Backstreet Boys (“Breathe”), and Alan Walker (“Sing Me To Sleep”), to name some.
Regarding post-sale executive shifts, Arctic Rights founder Kai Robøle and managing director Kerstin Mangert (who doubles as a STIM board member) are set to serve as creative director and MD, respectively, for Peermusic Arctic Rights Norway.
Meanwhile, Nigel Elderton (Peermusic’s UK MD and European president), Magnus Larkeryd (Peermusic’s MD for Sweden), and team members at Peermusic’s Stockholm office are poised to “assist in merging the operations” of Arctic Rights Management, according to the AudioShake investor Peermusic.
Addressing the play, Peermusic CEO Mary Megan Peer emphasized the perceived opportunities associated with capitalizing upon the “impressive local knowledge and experience” of the Arctic Rights team.
“The acquisition of Arctic Rights Management is a unique opportunity to grow our market presence in Norway,” Mary Megan Peer communicated in part, “adding the 32nd operating country to our global footprint, and to enhance the value at a time when the music market in Norway is booming, supported by digital sales, early adoption of paid music streaming services, and live music festivals.
“Kai and Kerstin have built an impressive collection of local and international hits written by their songwriters and we look forward to building upon this success,” continued the former ASCAP board member, whose company is said to have “well over a million titles in” its catalog.
In June, Peermusic Nashville signed singer-songwriter Karl Michael, who co-authored with Bruno Mars The Vamps’ “Can We Dance.” That same month, the close to century-old business bought the catalog of bluegrass legend Earl Scruggs as well as a majority interest in the work of his oldest son, Gary Scruggs.
More recently, August delivered Round Hill Music’s acquisition of Geoff Kulawick-founded Linus Entertainment, and September saw Concord, fresh off the announcement of an almost half-billion-dollar deal for Round Hill’s songs fund, purchase Mojo Music & Media.