Harmony has acquired what it says are “sure belongings” of Hitco Leisure, “together with (with restricted exclusions) its complete sound recording catalog and sure current releases”.
The corporate’s affirmation of its deal for the LA-base hip-hop and Pop report label confirms an article from Selection final month, which, citing a number of sources, reported that the music firm had been offered to Harmony.
Hitco Leisure is a Los Angeles-headquartered impartial report firm based in January 2018.
The agency’s artist signings have included Large Boi from Outkast and Dinah Jane from Fifth Concord, in addition to SAINT JHN and Yella Beezy.
SAINT JHN discovered main success in 2019 and 2020 together with his hit Roses, which – through an Imanbek remix – hit No.4 on the Billboard Sizzling 100 within the US, and topped charts in Australia, Canada, New Zealand, and the UK.
Along with its HQ in Beverly Hills, Los Angeles, Hitco Leisure runs US places of work in New York Metropolis and Atlanta, Georgia.
Harmony’s acquisition of HitCo’s label belongings follows the information from final month of its eight-figure acquisition of Australia & New Zealand-based music writer, Native Tongue.
MBW additionally understands that Harmony is within the operating for the acquisition of Pink Floyd’s catalog.
Harmony spent an estimated $1 billion on acquisitions throughout its first 14 years in enterprise.
It then spent two nine-figure sums buying a majority stake in Pulse Music Group in 2020, and then the Think about Dragons publishing catalog, earlier than buying Downtown’s copyright portfolio for $400 million, in 2021.
MBW not too long ago interviewed Harmony CEO, Scott Pascucci, and President, Bob Valentine, in regards to the agency’s return to music’s M&A market, in addition to the corporate’s resolution to show down a $5 billion acquisition supply.Music Enterprise Worldwide