Warner Music(US:WMG) 3 6 Ke·2025-07-18 03:14Core Insights - The largest music industry transactions in 2025 lack star power but compensate with scale, featuring three deals over $1 billion and the smallest at $450 million [1] - Notable transactions from last year include Sony Music's $1.27 billion acquisition of Queen's catalog and Blackstone's $1.6 billion purchase of Hipgnosis Songs Fund [1] - The most attention-grabbing deal this year is Taylor Swift's acquisition of her master recordings, which, despite its media coverage, is priced lower than the top five transactions [1] Group 1: Major Transactions - Concord is raising $1.65 billion through Asset-Backed Securities (ABS) to fund acquisitions, having previously completed significant ABS transactions in 2022 and 2023 [4] - Pophouse has raised $1.3 billion to acquire music catalogs and create experiences around these rights, with 30% of the funds already allocated to partnerships with various artists [6] - Warner Music Group (WMG) has established a $1.2 billion joint venture with Bain Capital to acquire recording and songwriting rights, with Goldman Sachs and Fifth Third Bank as joint lead arrangers [9] Group 2: Financing Trends - HarbourView Equity Partners has raised $500 million through ABS to seek opportunities in media, sports, and entertainment, focusing on music rights since its inception in 2021 [12] - WMG acquired a majority stake in Tempo Music for $450 million, with the company having spent over $1 billion on various artists' catalogs since its founding [14][15] - The growth of the music streaming market is creating an environment conducive to music-backed ABS transactions, with expectations for more such deals in the future [16]