Round Hill Music Royalty Fund says that its Net Publisher’s Share (the amount received by the music publisher after deduction of all fees, commissions and all royalties and other shares of income payable to third parties) for the first nine months of 2022 was $21.8m, up from $16.0m for the nine months to 30 September 2021.
More usefully, the organic year on year growth for the income from the initial portfolio investment was up 15.9%.
Advance licensing fee payments from some digital services contributed to a 147.7% year-over-year increase in streaming revenue. Stripping out these licensing fees, the income from the initial portfolio investment grew by 9.7%, driven by several contributing factors including:
- A large amount of income was received from Audiam, a digital collection agency, which also helped contribute to the 147.7% growth in streaming revenue.
- Synchronisation income increased 46.7% in 2022 due to two large placements licensed directly by the manager:
- Placements for Eric Carmen’s “All By Myself” accounted for almost half of the total increase in synchronisation income. These placements included advertisements for Adobe and TD Bank.
- The portion of Andreas Carlsson’s catalogue administered by the manager generated $150,000 of synchronisation income. “I’m Alive” by Celine Dion was placed in the trailer for the French film La vraie vie d’Aline Dieu and “Waking Up In Vegas” by Katy Perry was placed in an advertisement for BEHR Music In Color.
- The Offspring has seen strong 2022 performance year-over-year, bolstered by the July Round Hill Records release of their Greatest Hits album on vinyl and a busy 2022 touring schedule. Publishing NPS for the iconic American rock band is up 71.3% year-over-year, and Masters Net Label Share (NLS) is up 12.3% for the same period. The Offspring catalogue (publishing and masters) represents the company’s largest portfolio position by value.
- The Carlin catalogue produced a strong third quarter and publishing NPS is up 18.4% year-over-year vs. a relatively flat year-over-year for the six months to 30 June 2022.
- Publishing NPS for the Eric Carmen catalogue is up 53.6% year-over-year. The catalogue includes hits like “Hungry Eyes” and “All By Myself.”
- Catalogues acquired in 2021 and early 2022 with the C Share proceeds generated significant acquisition NPS growth including Trevor Rabin, Rebelution, Alice in Chains and David Coverdale.
RHM : Round Hill reports stronger revenue figures