Tesseract and Hawkeye Music Publishing Team Up to Acquire Artist & Songwriter Catalogs

Tesseract Music and Hawkeye Music Publishing person formed a strategical concern to get and negociate music-related intelligence spot rights, chiefly geared to creator and songwriter catalog acquisitions.

Tesseract Music, which seemingly counts Tesseract Icons and Tesseract Collective Inc. arsenic its sister companies, is an intelligence spot absorption institution founded by entrepreneur Richard Seet, a erstwhile main with The Carlyle Group; and Charles Riotto, a former president of the Licensing Industry Merchandisers Association (LIMA). Hawkeye Music Publishing was founded by Richard Stumpf, who has been elder vp astatine Cherry Lane Music, president of Imagem Music US and founder/CEO of Atlas Music, which was sold to Scooter Braun’s Ithaca Holdings successful 2019.

According to the announcement, the caller partnership, which is operating nether the sanction of Tesseract Music, has entree to $50 cardinal successful equity superior and is successful discussions with indebtedness providers to supplement its funding. Moreover, the announcement says they already “are successful conversations with euphony catalog owners to get their copyright libraries.”

Citing Stumpf’s expertise successful managing euphony catalogs and expanding their endeavor worth and Riotto’s expertise successful licensing and merchandising, Seet said successful a statement, “Through our partnership, we judge that we tin get euphony catalogs successfully and summation their royalty payouts.” He added that the synergistic pairing of Stumpf’s and Riotto’s expertise volition play “to the payment of our creator collaborators. It is frankincense not a astonishment that we person received the capitalist involvement we have.”

While the announcement doesn’t sanction circumstantial investors successful Tesseract Music, it does enactment that successful the past, Seet’s concern endeavors person been backed by large strategical and/or backstage equity investors including United Business Media, Angelo Gordon & Co. and Brookfield.

Stumpf added that Riotto’s cognition of the merchandising licensing concern volition substance the concern done plans to “maximize the worth of NILs (Name, Image and Likeness).”

For his part, Riotto said successful a statement, “Licensees are keen connected brands with passionate followers and euphony artists are often defined by the fervor of their fans. From my treatment with licensees, they are precise excited for the imaginable of NIL rights resulting from our partnership.”

In the past, Stumpf — who has worked with specified artists arsenic Van Halen, Quincy Jones, John Legend, the Black Eyed Peas, Ludacris, Mark Ronson, Swizz Beatz and the estates of Elvis Presley, John Denver and Sammy Cahn — has raised much than $58 cardinal successful backstage concern from household offices and task capital, according to the announcement. More recently, helium has been assisting specified euphony concern firms arsenic Round Hill Music Partners, Goldstate Music Capital, Harbour View Equity Partners and CatchPoint Rights Partners.

The announcement noted that Tesseract was advised by Clark Miller, who has antecedently held the positions of enforcement vp astatine EMI Music Publishing, Sony/ATV and Warner Chappell. He present has his ain consulting firm, Clark Miller Consulting LLC, according to his LinkedIn profile.