Screentime
Songs by Beyoncé and Aretha Franklin Change Hands in Music Deal
- Concord acquires 145,000 music copyrights from Downtown
- Surging value of song rights has led to flurry of transactions
Concord Music Group is acquiring more than 145,000 music copyrights from Downtown Music Holdings, bringing songs by Beyoncé and Aretha Franklin under the same umbrella as Rodgers & Hammerstein and Kidz Bop.
The deal combines two of the largest independent music catalogs in the world. Concord already represents more than 400,000 songs and has acquired more than a dozen smaller companies over the past decade. Financial terms of the transaction, announced Monday, weren’t disclosed.