Chili Pepper Sale
WMG acquires catalog masters of the Red Hot Chili Peppers for rumored over $300 million (a joint venture with Bain Capital). Catalog includes 13 studio albums, generating approximately $26 million/year. The sale follows 2021’s publishing sale to Hipgnosis (now Recognition Music) for roughly $150 million.
SourceAudio Music Monitoring
Sync Platform SourceAudio has expanded their SourceAudio Detect music monitoring service to include neural fingerprinting and watermark technology to identify licensed music in television, film, radio, and other commercial uses. SourceAudio members can add the monitoring service to their membership as an add-on fee, pro-rated to their catalog size. The new technology can detect legacy and new recordings and provide comprehensive reports for the associated performing rights organization (PRO) to help ensure the collection of all appropriate royalties, adding to SourceAudio’s mission to increase music rightsholder revenue. Details at sourceaudio.com/music-monitoring.
