Amblin Partners, the renowned production company founded by Steven Spielberg, has entered into a significant agreement with Multimedia Music (MMM). Under this partnership, Amblin has sold a 50% stake in its music publishing catalog and music master rights from its film music library to MMM.
This catalog includes an array of acclaimed films such as 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 others. Notably, it showcases the iconic music composed by globally celebrated artists like John Williams, Thomas Newman, Danny Elfman, Alexandre Desplat, Rachel Portman, Mark Isham, and Rob Simonsen.
The collaboration between Amblin and MMM goes beyond the catalog sale. Both parties will actively pursue new initiatives to enhance the value of the music collection. This includes maximizing revenue streams and exploring fresh opportunities to utilize the catalog in commercials, trailers, and television shows.
Chris Floyd, the Co-COO & General Counsel of Amblin Partners, expressed excitement about the partnership, stating, “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.”
Multimedia Music Partners, James Gibb and Phil Hope, shared their perspective on the music partnership, highlighting the combination of Amblin’s exceptional creative content with MMM’s expertise in maximizing music-related earnings. They expressed confidence in their ability to generate significant additional value for both the partnership and the talented composers whose exceptional work contributes to the catalog.
The sale of catalogs by artists has gained momentum in recent years as companies seek to monetize these valuable assets. For instance, Warner Bros. Discovery is actively seeking a substantial price tag for the sale of its music catalog, considering it a non-core asset.
This recent catalog deal follows MMM’s intensive round of acquisitions, which includes not only the Amblin music library stake but also the purchase of the STX Entertainment and Atlantic Screen Music libraries, as well as the catalogues of music income and copyrights from numerous composers such as James Newton Howard, Tyler Bates, David Buckley, Michael Corcoran, Sean Callery, and Trevor Morris.
Multimedia Music, which was established in 2021, has experienced significant growth in its investment fund. Recently, the company successfully closed a $100 million investment uplift in the Multimedia Music fund, expanding its initial value from $100 million to $200 million.
