Rodgers and Hammersteins catalogue expected to fetch $325mSeptember 4th, 2008 - 4:56 pm ICT by ANI
London, Sept 4 (ANI): The descendants of Rodgers and Hammerstein are reportedly planning to sell their 200 million dollars catalogue of Broadway musical show tunes and standards to major music companies.
Music publishers including EMI, Sony BMG, Universal Music and Warner are all looking over the catalogue, which includes songs from shows including The Sound of Music and The King and I.
Richard Rodgers and Oscar Hammerstein’’s daughters are planning to sell the catalogue that includes over 3,000 songs.
The Rodgers & Hammerstein Organisation’’s porfolio includes work by more than 100 writers of hits such as Annie Get Your Gun, Joseph, Carousel, Cats, Jesus Christ Superstar and The Mikado.
The company is now hoping to fetch about 325 million dollars from the sale of the catalogue.
The Rodgers & Hammerstein catalogue has also attracted interest from hedge funds and private equity companies, which are attracted to song publishing assets as a source of regular cash flows through song licensing.
“This catalogue has not been exploited to its full potential,” the Telegraph quoted one industry insider, as saying.
Publishing companies can make new revenue from catalog assets by licensing show tunes for use in a range of outlets such as advertising, video and television, in a process known as synchronization.
A Rodgers & Hammerstein spokesman said the company did not want to comment. (ANI)
Tags: industry insider, jesus christ superstar, licensing show, music publishers, private equity companies, richard rodgers and oscar hammerstein, rodgers and hammerstein, show tunes, song publishing, sony bmg