South Korean investment and management firm Beyond Music made its first acquisition of a North American music catalog by purchasing the rights to the music of Grammy-winning Canadian songwriter-producer Greg Wells.
soundtrack. The rights vary by title and include publishing rights, producing income rights, and master performance rights, according to a company spokesperson. With the Wells acquisition, Beyond Music’s assets under management are 300 billion won .
The Wells acquisition was made by a newly established U.S.-based subsidiary, Beyond Music US, because domestic transactions are simpler for tax and legal purposes, and the company wants to pursue additional international opportunities in the future, according to the spokesperson. That said, Wells’ catalog covers many Western artists who are also popular in South Korea and throughout Asia.
“Now is the time to become a global music rights management company by securing not only Asian, but also international music rights,” Beyond Music CEO, using the ticker KPOP, on the NYSE Arca Exchange in September. Beyond Music is a subsidiary of Contents Technology. In a statement, Wells called it “an honor to be the first major music catalog acquisition for Beyond outside the Korean market. I am impressed with their commitment to creative freedom as well as maximizing the impact of my songs. I feel my work is in good hands with them.”
Wells won a Grammy in 2019 for Best Compilation Soundtrack for Visual Media for his production and engineering work on. He also received Grammy nominations for his work on
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