‘Put a ring on it’: Sony-GIC venture acquires Beyonce, Bruno Mars music catalogue

[SINGAPORE] Sony Music Publishing has agreed to acquire the complete music rights portfolio of Recognition Music Group, which includes over 45,000 songs by the likes of Beyonce and Bruno Mars.

The deal involves an investment venture between Sony Music Group and Singapore’s GIC, the music giant announced in a statement on Monday (May 11).

Unveiled in January, the Sony-GIC partnership is focused on acquiring and growing music catalogue assets across genres and markets.

Sony did not reveal the purchase price for the Recognition portfolio, which it is acquiring from funds managed by Blackstone. Previous media reports put the price tag at almost US$4 billion.

Songs in the portfolio include Beyonce’s Single Ladies (Put a Ring on it), Bruno Mars’ Locked Out of Heaven and Mariah Carey’s All I Want for Christmas is You.

Sony Music Publishing’s chief executive Jon Platt said that the deal reflects a “belief in the enduring power of great music” that it shared with GIC.

He added: “These timeless songs continue to define culture and inspire generations, and it is a privilege to champion their legacy as guardians of their next chapter.”

GIC has invested in the music industry for nearly a decade, looking into companies, catalogues and music-focused funds since 2017.

The deal “delivers a strong outcome for Blackstone”, said Qasim Abbas, its senior managing director and head of tactical opportunities international.

SEE ALSO

Sony, Singapore’s GIC to pay almost US$4 billion for Bieber, Neil Young catalogue

It also “represents a further vote of confidence in music rights as an institutionally established asset class”, he noted.