Music industry veterans Hank Forsyth and Dan McCarroll have come together to launch Litmus Music with the help of Carlyle Global Credit.
With deep roots in the music industry, both artistically and operationally, the founding members of Litmus share the goal of creating value for artists and investors through “thoughtful” music management. Litmus Music will acquire and manage music publishing and recorded music rights with an initial commitment of $500 million from Carlyle Global Credit and management capital.
“Music is more important than it has ever been in society, and its impact and value are increasingly felt,” said Hank Forsyth, co-founder and CEO of Litmus. “It is an honor to partner with Dan and form what we have been talking about for years – a music business and team built on integrity and trust. These core Litmus values are shared by Carlyle, and we believe they are the best partners to support our team as we begin this journey.
“Music has been the driving force of my life and I have the greatest respect for the writers and artists who make it and the fans who cherish it,” adds Dan McCarroll, Co-Founder and Chief Creative Officer of Litmus. .
“It’s exciting to begin Litmus with the partnership of Hank and Carlyle. Our incredible team is focused on collaborating and creating a collection of ageless musical assets and unforgettable songs that will continue to enrich people’s lives. for the coming years.
“Our partnership with Hank and Dan, two highly regarded music industry executives, underscores the value we see in music rights, driven by strong tailwinds and the uncorrelated nature of the asset class,” said Matt Settle, managing director of Carlyle Global Credit. . “Streaming and other new media have enabled more ways than ever to consume content, and we believe Litmus has the right mix of skills, experience and connectivity to grow a successful and differentiated business, and to take care of the works that people have spent their whole lives. create.
Only time will tell which music catalogs Litmus decides to buy, with plenty to choose from. While many heavyweights – Bob Dylan, Bruce Springsteen, Sting – are no longer up for grabs, Pink Floyd’s catalog is still available with an estimated $500 million prize. Perhaps the smartest choice for Litmus is to wait and see what smaller catalogs become available in the next wave of availability.