Sony Publishing to Acquire Recognition Music

Sony Music Publishing has announced it has agreed to acquire Recognition Music Group's entire catalogue from Blackstone.

According to Variety, the acquisition, made in partnership with investment venture GIC, gives Sony a piece of over 45,000 songs from some of the biggest names in music history.

Sources report that the catalogue is valued at around US$2 billion. 

Some of the tracks in the catlogue include Journey’s “Don’t Stop Believin’’, Red Hot Chili Peppers’ ”Under the Bridge", Lady Gaga's “Bad Romance”, Fleetwood Mac’s “Go Your Own Way”, Bon Jovi's “Livin' on a Prayer” and Beyoncé’s “Single Ladies (Put A Ring On It)”.

The collection was largely assembled by Hipgnosis Songs Group, which went on an unprecedented buying spree beginning in the mid-2010s, dropping over $3 billion to snap up the rights to some of the biggest songs ever written. After a period of instability for the company, investment firm Blackstone stepped in, acquiring various parts of the Hipgnosis empire before now selling this massive portfolio to Sony.

Jon Platt, Chairman & CEO of Sony Music Publishing, said the investment reflects a “belief in the enduring power of great music,” adding that it’s a “privilege to champion their legacy as guardians of their next chapter.”

Ben Katovsky, CEO of Recognition Music Group, added, “It has been an honour to steward this phenomenal catalogue... This is a milestone moment for Recognition and testament to the enduring value of music.”

Meanwhile, Qasim Abbas from Blackstone called it a “strong outcome” and a “further vote of confidence in music rights as an institutionally established asset class".