To make a splash within the music catalog acquisition recreation lately, you higher include a singular technique.
Olivier Chastan is aware of this world nicely: He was beforehand CEO at Irving Azoff’s Iconic Artists Group, which final yr acquired catalogs from the likes of the Seaside Boys, David Crosby, and Linda Ronstadt.
At this time (February 4), Chastan has taken the wraps off his personal acquisitive automobile – Los Angeles-based Iconoclast – with a headline-grabbing rights deal already signed and sealed.
Iconoclast has bought Robbie Robertson’s music publishing and NIL (identify, picture & likeness) rights, plus his recorded music pursuits, masking his profession thus far.
Robertson wrote and performed on a run of hits for legendary rock group The Band, together with The Weight, The Night time They Drove Previous Dixie Down and Up On Cripple Creek.
Robertson additionally produced the genre-defining live performance movie The Final Waltz, directed by Martin Scorsese, and has moreover cultivated a storied profession as a solo artist, movie composer, producer, writer, and actor.
(One anomaly: The underlying publishing rights to The Band’s 1968 debut album have been owned by Bob Dylan, and bought by Common as a part of its Dylan catalog buyout in 2020; Robertson retained the author’s share.)
Olivier Chastan tells MBW that Iconoclast has heavyweight monetary backing.
After we probingly counsel out loud that his firm can “compete with and even exceed” the funding of any of the big M&A gamers in as we speak’s music market, Chastan replies: “I do know of the current fundraises, and that assertion is factually appropriate.”
It is a huge remark: We don’t must remind you that the likes of Blackstone (through Hipgnosis) – amongst others – have dedicated a billion dollars-plus to music acquisitions in current months.
(MBW’s sources inform us that Iconoclast is being backed by Pimco, which has over $2 trillion in property below administration. Chastan refuses to touch upon that suggestion.)
To be frank, Chastan appears moderately disinterested in speaking about Iconoclast’s spending energy.
The US-based French govt is way more energized by discussing Iconoclast’s technique, which he says can be differentiated from many out there through its deal with “managing the general model and legacy of an artist, not simply their music rights”.
Since Chastan quietly launched Iconoclast final fall, he says the corporate has accomplished 5 separate music rights acquisitions.
Chastan provides that Iconoclast has a “robust deal with know-how”, together with immersive leisure and blockchain.
He feedback: “We need to drive the conversion to make legacy artists related in the way forward for leisure.”
“We need to drive the conversion to make legacy artists related in the way forward for leisure.”
Olivier Chastan, Iconoclast
This strategy manifested in an NFT sale final month, which noticed Iconoclast companion with digital music icon Giorgio Moroder and RM Sotheby’s.
That partnership led to the sale of a “supercar plus NFT” package deal, together with the unique 1988 Cizeta-Moroder supercar owned and impressed by Moroder.
The package deal offered at public sale in Arizona in late January for USD $1.36 million, exceeding Iconoclast’s preliminary expectations.
As a part of the Robbie Robertson deal, reveals Chastan, The Band musician has joined Iconoclast’s board – a sign, says the exec, of the closeness that his firm is seeking to strike with legendary artists and songwriters.
Says Chastan of Robertson: “My ardour for Robbie’s music began once I first heard Music From Huge Pink as a 13 year-old child. His subtle and cinematic songs modified my life and have by no means left my musical universe.
“Our partnership with Robbie illustrates our dedication to preserving and rising culturally vital artwork into the longer term. Our deal with modern model growth and rising know-how ensures that present and new followers will proceed to expertise Robbie’s unimaginable music over time.
“I’m additionally delighted to welcome Robbie as a inventive advisor to Iconoclast the place he’ll contribute his invaluable style and creative insights.”
“Olivier’s deep appreciation for artwork and creativity infused together with his imaginative and prescient for the way forward for leisure satisfied me that Iconoclast was the precise companion to entrust with the legacy of The Band and my catalog.”
Robbie Robertson added: “Olivier’s deep appreciation for artwork and creativity infused together with his imaginative and prescient for the way forward for leisure satisfied me that Iconoclast was the precise companion to entrust with the legacy of The Band and my catalog”.
Peter Paterno and Michael Rexford of King, Holmes, Paterno & Soriano, LLP represented Iconoclast, and Gary Stiffelman of GSS Legislation represented Robbie Robertson within the transaction.Music Enterprise Worldwide