ICM ASSET MANAGEMENT has partnered with PARK AVENUE ARTISTS, a NEW YORK CITY-based artist management and production company, to identify strategic investment opportunities within the music creator community for its ICM CRESCENDO MUSIC ROYALTY FUND. The first investment under the new deal is ICM CRESCENDO’s purchase of a set of royalties from GRAMMY-winning classical violinist JOSHUA BELL, a PARK AVENUE ARTISTS client.Unlike many of the standard catalog acquisition models, the .
The portfolio of Toronto-based Music Royalties Inc., which plans to go public this year, includes songs from contemporary artists such as Drake, pictured in London in 2015, as well as legendary bands including the Rolling Stones, the Who and the Kinks. THE CANADIAN PRESS/AP, Invision - Jonathan Short
Jonathan Short/The Associated Press
The Rolling Stones, Fleetwood Mac, Madonna, Drake, Justin Bieber and the Weeknd have topped music charts during different decades thanks to diehard fans. Now, their songs have struck a chord with yield-seeking investors, too.
Welcome to the music-royalty gold rush. Canadian investment funds and entertainment-focused firms have joined a global party in buying up rights to music catalogues that can generate royalty payments when songs are bought, streamed, performed or used in Peloton fitness classes.