Music publisher One77 Music has launched in New York City, with an eye for new catalog and some very deep pockets. Led by veteran music exec Jennifer Blakeman, One77 launches with a catalog of 6,000 songs, which it values at $27 million, as well as a substantial, but undisclosed capital investment.
One77 is backed by private equity investor Virgo Capital, as investors are increasingly attracted to music copyrights as an asset class in the era of ascendant streaming.
Blakeman (pictured above) has served as a top creative exec at Universal Publishing, Atlas Publishing and Atlantic Records. She will serve as One77’s president and chief creative officer.
“We are actively seeking to acquire a diverse array of catalogs,” Blakeman said in a statement. “An ideal fit would be to acquire a catalog owned by heirs who have an emotional attachment to the songs but feel overwhelmed in knowing how to maximize the legacy. We’re also looking to do deals with established acts that are basically comfortable with their existing situation but are not ‘invigorated’ and need more attention.”
Catalog + Kobalt
One77’s song catalog boasts hits such as Martina McBride’s “In My Daughter’s Eyes,” Luke Bryan’s “Crash My Party,” ink’s “Setting the World on Fire,” and Jason Aldean’s “A Little More Summertime.”
one77’s active roster also includes three-time Grammy winner, writer/producer, Sean Garrett, who has penned hits for the likes of Beyonce and Nicki Minaj, and Alex Winston of Post Precious fame.
One77 is partnered with Kobalt Music, which will serve as global administrator for their copyrights.
Blakeman also comes to the role with experience as both a musician and founder of the band Private Life, and working as a touring keyboardist with artists such as Billy Idol and David Cassidy. She is also an Adjunct Professor of Music Publishing at New York University.via CelebrityAccess