Kilometer Music Group has officially acquired the catalogs of Canadian producer and songwriter Murda Beatz (full name Shane Lee Lindstrom) and singer-songwriter “Don’t” Bryson Tiller.
Toronto-headquartered Kilometer Music Group, which arrived on the scene last year, announced the IP music investments via an official statement emailed to DMN. It should be noted at the outset that Kilometer Music’s “mission is to reclaim the financial rewards of the decades-long ‘global invasion of Canadian music’ for the benefit of Canadian artists, investors and culture,” says clearly the announcement message of the entity.
On that front, Kilometer Music has partnered with Toronto-based investment firm Barometer Capital Management and created the Barometer Global Music Royalty Fund, which has purchased the aforementioned intellectual property and is expected to spend $200 million “primarily” on “the iconic catalogs and music rights from Canadian creators.
Keeping these operational specifics in mind, today’s deal saw Kilometer Music buy the 285-song catalog of Fort Erie, Ontario native Murda Beatz, whose Spotify profile claims 2.12 million monthly listeners. The 27-year-old has produced tracks by Toronto-born Travis Scott, Nipsey Hussle, Nicki Minaj and Drake, and Kilometer’s fund now has a stake in 36 of the latter artist’s songs.
Addressing the Murda Beatz deal in a statement, Rodney Murphy, longtime SOCAN executive and current President of A&R and Kilometer Acquisitions, said, “I have worked with Murda for over six years and I I was amazed by his tireless work ethic and undeniable ability to create classics. modern rap hits at a prolific pace. We are honored that Murda trusted us with his life’s work, and we are thrilled to build this partnership with him.
And Louisville, Ky., native Bryson Tiller, for his part, has released three studio albums to date, encompassing such well-known tracks as “Exchange” and “Sorry Not Sorry.” With 10.40 million monthly listeners on Spotify, the 29-year-old has collaborated with DJ Khaled, Rihanna, Gucci Mane and Travis Scott, to name a few.
Also factoring in newly acquired song rights, Kilometer claims its aforementioned fund owns at least 900 songs, including co-ownership of “10 of the 100 most-streamed songs of all time, and 7% of the ‘ Spotify’s Billions Club’ – songs with 1 billion or more streams.
In addition to Kilometer’s unique geographic focus – other music IP investors from London-based Hipgnosis to New York-based Primary Wave have signed deals with artists around the world – the apparent focus of the company’s song rights on relatively young creators could be indicative of a larger trend in the hot catalog space.
It’s no secret that legacy artists Bruce Springsteen (72), Bob Dylan (80) and several members of Fleetwood Mac have cashed in their catalogs. But the first month of 2022 brought deals involving Travis Tritt (58), Kenny Chesney (53), Matt Redman (47), John Legend (43) and Luis Fonsi (43).