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Concord Acquires Savoy, 429 Records


paul secor

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If a corporation sits on a pile of music that the general public neither knows or cares exists, what will incentivize them to stand up and look what they got? Nothing?

I was trying to explain this to a guy at work a few weeks ago, why "people" want to own mountains of shit they have no intention of using, and the best I could put it was that it's not really a bet on the bulk gaining value through intrinsic worth of some other antiquated notion, but more like a hedge that one day, one hipster with beaucoup money is going to for whatever reason want to pull something out of of their ass for a film or a commercial or something and then they can say here's your ass right here, pull away big boy, here's what it'll cost you, you gotta pay to pull, and then they'll get some money. Cigars will be lit, whores will be screwed, satan gets paid, and then, they all laughed when I sat down to pay, well, who's got the last laugh now. Or, like some hipster with a buttload of money and even more of a mission is going to want to pay those big bucks to own it so they can give it away in perpetuity, egotism via philanthropy and/or vice versa.

But no, they're not buying it to use it, what is this, the 20th century? No, they're buying it so when somebody else wants it, they'll be the ones who can sell it.

 

 

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7 hours ago, Dan Gould said:

A story from four years ago has more relevance than this story?

:g  :g

Yes, quote from the Variety link above:

"Since being acquired by Wood Creek Capital Management Group in March, 2013, from Village Roadshow Entertainment Group (and Norman Lear, who remains on as chairman emeritus) for $120 million, Concord Music has been on a spending spree .."

So that Billboard item is old hat indeed.

 

18 hours ago, JSngry said:

If a corporation sits on a pile of music that the general public neither knows or cares exists, what will incentivize them to stand up and look what they got? Nothing?...

But no, they're not buying it to use it, what is this, the 20th century? No, they're buying it so when somebody else wants it, they'll be the ones who can sell it.

You just explained why there are P.D. labels reissuing that stuff in places where this is perfectly legal. Because there ARE people who care about hearing this. ;)

Edited by Big Beat Steve
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This NYT article from June has a little more info on Concord's ownership changes.

 

For Concord Bicycle, the Imagem acquisition will cap a busy period of deal making. Four years ago, Wood Creek Capital Management, a private equity affiliate of MassMutual, bought the Concord Music Group, a record label that had built a business catering to adult tastes with Paul McCartney, the Stax soul catalog and a joint label with Starbucks. (Concord Bicycle is now owned by Barings Alternative Investments, the successor to Wood Creek; Sound Investors, led by the media executive Stephen Smith; and others.) Then, in 2015, Concord merged with the Bicycle Music Company, a publisher, and the combined company made a series of deals for new kinds of music: Wind-Up Records and Razor & Tie brought hard rock and the popular “Kidz Bop” series; a deal for Musart added Latin music; a deal with the music executive Tom Whalley for his label Loma Vista added alternative acts like St. Vincent; and there was a partnership with Andrew Lloyd Webber’s Really Useful Group.

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