London music royalty fund acquires rights to catalogue of 70s “rock icon”
Round Hill Music Royalty Fund Limited has announced the acquisition of the music publishing, master rights, and master rights royalties for, the catalogue of Whitesnake frontman and Deep Purple lead singer from 1973 to 1976, David Coverdale.
The catalogue has diversified revenue exposures including, on the master side, streaming, comprising 23 per cent of revenue mix, with the balance being comprised of 17 per cent physical, 4 per cent download and 6 per cent sync.
Revenue from the music publishing assets comprises 39 per cent of revenue while neighbouring rights royalties comprise 11 per cent. In terms of geographical exposure, 47 per cent of the revenue is from the US, while the balance is from other countries.
The top songs ranked by revenue are: “Here I Go Again”, “Crying in the Rain”, “Fool for your Loving”, “Is This Love”, “Still of the Night”, “Slow an’ Easy”, “Burn” and “Stormbringer”.
All figures above are based on the catalogue’s royalty statements in the calendar years 2018-2020.
Trevor Bowen, chair of Round Hill Music Royalty Fund, commented: “The Board is pleased to provide RHM shareholders with access to David Coverdale’s own legendary catalogue of hits as the frontman from one of best known rock bands of all time, who helped to define an era of music.”
Josh Gruss, chairman and CEO of Round Hill, added: “David Coverdale is a true rock icon. As the frontman for two of the world’s greatest bands, Whitesnake and Deep Purple, he has blazed a trail since the early 70s, and his legacy and influence on the generations of artists that followed him cannot be understated.”
David Coverdale said: “I am thrilled beyond words to joyfully announce that my existing catalogue of works, both songs and master recordings, which I have been involved in creating for over 50 years, is now in exceptionally safe hands with the fine people at Round Hill.
“I look forward immensely to working together with Josh Gruss and all at Round Hill to ensure the legacy of my existing works for future generations to enjoy.”
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