MUSIC ROYALTIES INC. Acquires Songwriter Catalog with Investee Public Company ROYALTIES INC.
Toronto, May 24, 2023 – Music Royalties Inc. (“MRI”), an investment company with a diversified portfolio of iconic catalogs of songwriter, manager, producer and sound recording interests, is pleased to announce its 26th acquisition of a songwriter catalogue generating a 9% yield. This is an acquisition of an American Grammy nominated, multi-award-winning music producer and songwriter’s interest in the publishing and public performance royalties of songs performed by artists including Britney Spears, Joe, Michael Jackson and R. Kelly, paid by royalty distributors SOCAN and Universal Music Publishing Group (UMPG). The catalog consists of over 300 songs including two # 1 Pop/R&B songs and two Top 10 Pop/R&B songs. The songwriter has taken a portion of the purchase price in shares of Music Royalties Inc in order to continue to receive a more diversified increasing dividend income and participate in future upside.
MRI owns the majority of this catalog, however, the songwriter expressed interest in also taking shares in an investee of MRI, a public company Royalties Inc. (“RI”) which recently started trading on the Canadian Securities Exchange (CSE) under the symbol RI. RI invested $1 million in shares of MRI and has been receiving the monthly dividend since October 2022.
About Music Royalties Inc.
Alternative Non-Correlated Passive International Streaming Income Distributed Via Monthly Dividends
Music Royalties Inc.’s intellectual property portfolio provides direct exposure to music revenues which are exhibiting long term growth due to smartphone adoption, increasing paid subscriptions of music services (iTunes, Spotify, YouTube) and exploding streaming growth on new platforms (Amazon, Facebook, TikTok) generating double digit income growth in a low growth world. MRI’s goal is to increase share value by accumulating a diversified portfolio of cash flowing royalties which pay a monthly dividend. MRI acquired its first catalog in 2018 and has paid out over $5 million in 40 dividend payments derived mostly from the streaming income from iconic songs of numerous artist brands diversified by era and genre. MRI has tripled its dividend from $0.01 to $0.03 per share through ongoing accretive acquisitions of cash flow from music rightsholders averaging 6-20% yields.
Tim Gallagher Connor Gallagher
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