Max Martin and Shellback are making big money moves.
The Swedish pop songwriting icons announced a partnership with their collective, onstage during the 2018 ASCAP Pop Music Awards on April 23, 2018 in Beverly Hills, California., and investment firm HarbourView Equity Partners.
HarbourView acquired the publisher’s share of select compositions written by the collective, including hits by Taylor Swift, Ariana Grande, and The Weeknd among many other stars.
The acquisition price is “in the low nine figures” according to Variety, but HarbourView did not confirm and said the company does not disclose deal terms.
“At HarbourView, we invest in culturally relevant intellectual property and the visionary creators behind it. Max Martin and Shellback continue to hold their place as hitmakers in contemporary music, and through Wolf Cousins they have built an extraordinary creative ecosystem spanning generations and genres. We are proud to partner with them and help steward the legacy of this remarkable catalog,” founder and CEO of HarbourView Equity Partners Sherrese Clarke said in a statement.
“Wolf Cousins was founded to bring songwriters and producers together in an environment built on collaboration, mentorship and creative development. HarbourView’s long-term vision and respect for creators make them a natural partner for this body of work,” Max and Shellback said in their own statement.
Wolf Cousins includes legendary songwriters like Ilya Salmanzadeh, Oscar Holter, and Tove Lo, and includes hits contributed to stars like Demi Lovato and Imagine Dragons.
Songs included in the deal include Taylor Swift’s “Style” and “…Ready For It?,” Ariana Grande’s “Problem,” “Into You,” and “No Tears Left To Cry,” and The Weeknd’s “Can’t Feel My Face.”
While the deal includes songs recorded by artists like Taylor Swift, it doesn’t affect ownership of the recordings themselves. Instead, HarbourView purchased the rights to collect some of the future publishing income earned by Max Martin, Shellback, and their songwriting team whenever those songs are streamed, played on the radio, licensed for film and TV, or used in other ways.
Taylor Swift still earns money from her own share as a songwriter and performer on songs she co-wrote, and her rights to those songs and any future re-recordings are not affected by the deal.
For songwriters like Max Martin and Shellback, deals like this provide a huge upfront payday instead of waiting years or even decades to collect royalty payments. In exchange for a large lump-sum payment today, they sell the right to receive some of that future income. The buyer is betting the songs will continue generating enough revenue over time to make the investment worthwhile.
Click here for more about why songwriters and artists may choose to sell future royalty income from their music.
HarbourView has amassed “approximately $3.88 billion in regulatory assets under management and acquired more than 70 music catalogs,” including works by Kelly Clarkson, Rodney “Darkchild” Jerkins, Pat Benatar, Nelly and many more acts.
Justin Bieber also recently sold his music catalog.
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