Both are latest acquisitions by company
Primary Wave has acquired the catalogs of America and Paul Rodgers. The deals, which were among 10 acquired during the last week of 2021, are worth $40 million and $20 million, respectively, according to the Wall Street Journal. They are part of the company’s extended portfolio that includes Whitney Houston, Bob Marley, Prince and others.
America songs included in the new partnership encompass a number of the band’s biggest hits written by Gerry Beckley and Dewey Bunnell, such as “Sister Golden Hair,” “Ventura Highway,” and “Tin Man.” All three of these songs would spend weeks on the top 10 of the Billboard 100, “Sister Golden Hair” hitting the No. 1 spot. Also included is the band’s iconic hit “A Horse With No Name.” Released in 1971, “A Horse With No Name” was the band’s first and most successful single. The song shot to No. 1 on the Billboard 100, staying there for three weeks, and would go on to be certified platinum. In 1972 the single was nominated for a Grammy Award in the category of “Best Pop Vocal Performance by A Duo, Group or Chorus” and helped them win for “Best New Artist.”
“We are pleased that our catalogue is now in the able hands of the good folks at Primary Wave, where the music we have created over the last 50 years will be given new attention and exposure,” says Bunnell. “We are proud of the music we produced across these decades, and look forward to watching the catalogue continue to enhance listeners’ lives for generations to come through the vision and actions of Primary Wave. Meanwhile, we continue to actively pursue our careers as songwriters and performers into the 21st Century.”
Rodgers’ deal includes his music publishing catalog and recorded music income streams spanning his work with Free and Bad Company. Songs include “Feel Like Makin’ Love,” “Shooting Star,” “Wishing Well,” “Fire & Water,” and “All Right Now.”
Terms of Rodgers’ deal also include a label imprint in partnership with the legendary Sun Records that will see the British rocker co-sign artists and curate compilations. Rodgers will also have access to Primary Wave’s marketing, digital, branding and publishing teams for licensing and synch opportunities.
“Innovative, hardworking, cutting edge and courageous are just some of the adjectives that define Primary Wave,” Rodgers says. “Given their deep knowledge of my catalogue, joining forces with them seems a natural progression, to ensure that the messages and the music live on for the fans.”
Primary Wave is expected to increase its acquisitions in 2022. In 2021, the company closed 29 deals as artists are looking to capitalize on their catalogs as new American tax laws would impose a five to eight percent tax increase on adjusted gross income from $10-$25 million. As streaming and licensing revenue increases, Primary Wave is expected to spend $500-600 million in acquisitions this year alone.
