Citrin Cooperman, a 43-year-old professional services firm, has acquired Massarsky Consulting, which bills itself as a “one-stop-shop music industry consultancy” and has rated a significant number of music catalogs.
Citrin Cooperman’s acquisition of 30-year-old Massarsky Consulting was revealed in an article by CPA Practice Advisorwhich also clarified that Massarsky associates Barry Massarsky and Nari Matsuura are expected to join the buying firm.
It’s no secret that all sorts of well-known artists – including, but certainly not limited to, Bruce Springsteen, The Red Hot Chili Peppers, Bob Dylan, The Killers and Madonna – have taken advantage of their music IP since the early 2020. Massarsky Consulting in 2021 valued north of 300 catalogs with a cumulative value of more than $6.5 billion, according to a statement from Citrin Cooperman CEO Alan Badey.
According to the Massarsky Consulting website, the RIAA began a long professional relationship with the consulting boutique in 1992, and the review-focused firm lists the publishing divisions of major labels, Downtown, Round Hill, Reservoir, BMG, PRS, SESAC, and SoundExchange, to name a few.
Moreover, the entity’s client list also includes several artists whose catalogs have already been sold (Paul Simon and Hall & Oates) and, interestingly, artists who still seem to own their rights to the songs (Green Day, The Guess Who and The Zac Brown Band). Green Day has over 19 million monthly Spotify listeners and the trio certified RIAA platinum (and BPI certified gold) Kerplunk effort will celebrate its 31st anniversary next December.
Back to the nuances of Citrin Cooperman’s takeover of Massarsky Consulting, however, 66-year-old Barry Massarsky (a longtime member of the Association of Independent Music Publishers) and 51-year-old Matsuura (a former concert pianist) will lead the just-band. of music economics and appraisal services.
Financial terms of the transaction have not been publicly disclosed, and in the the wall street journal interview, Massarsky noted the growing interest in classic tracks (“Over the past couple of years, older songs have become the streaming phenomenon”), and Matsuura pushed back against the idea that there’s a bubble in the catalog sales area.
“It’s based on real organic growth: 26% in streaming,” Matsuura said in part. “And now you’re talking about all this extra revenue from social media platforms that have deep pockets. Where is the bubble if there are strong fundamentals? »
This morning, country star Kenny Chesney became the latest artist to sell his song rights, transferring 80% of his recorded catalog (until 2017, specifically) to Blackstone-powered Hipgnosis Song Management (HSM).