Exciting news! Steven Spielberg’s Amblin Partners has just sold a 50% stake in its incredible catalog of music publishing and music master rights from the film music library to Multimedia Music. This includes some of their most iconic and award-winning films like 1917, Green Book, The BFG, Bridge of Spies, The Post, Office Christmas Party, Thank You For Your Service, The Girl on the Train, and many more. The catalog features music from world-renowned composers such as John Williams, Thomas Newman, Danny Elfman, Alexandre Desplat, Rachel Portman, Mark Isham, and Rob Simonsen.
But that’s not all! This music partnership will also bring new initiatives to the table. Amblin and MMM will work together to maximize income collections and find new uses for the catalog in commercials, trailers, and television shows. It’s all about increasing the value and exposure of this incredible music.
“We are proud to partner with MMM and look forward to exploring new avenues to maximize the value of our extensive music catalogue alongside their fantastic team,” said Chris Floyd, Amblin Partners Co-COO & General Counsel.
“By combining Amblin’s unrivalled creative content with our ability to maximize media music earnings, we are confident that we will together be able to build significant additional value for both our partnership and for the composers whose amazing work makes up the catalog,” said Multimedia Music Partners James Gibb and Phil Hope.
Catalog sales by artists have been on the rise, and companies are now looking to monetize them as well. Warner Bros. Discovery, for example, is considering selling all or part of its music catalog, which it sees as a non-core asset.
This exciting catalog deal comes after a recent round of acquisitions by MMM. In addition to the Amblin music library stake, they have also acquired the STX Entertainment and Atlantic Screen Music libraries, as well as the catalogues of music income and copyrights from numerous composers including James Newton Howard, Tyler Bates, David Buckley, Michael Corcoran, Sean Callery, and Trevor Morris.
Multimedia Music is making big moves in the industry. They recently closed a $100 million investment uplift in the Multimedia Music fund, doubling its value from $100 million to $200 million.