Acquisition of Take That producer royalties

RNS Number : 9127L

One Media iP Group PLC

18 January 2021

 

18 January 2021

One Media iP Group Plc

("One Media" or the "Company")

Acquisition of Take That producer royalties

One Media iP Group Plc (AIM: OMIP), the digital music rights acquirer, publisher and distributor, is pleased to announce that it has acquired the producer royalties of a selection of tracks by one of the most renowned pop groups in the United Kingdom, Take That, from Ian Levine, British songwriter, producer and DJ.

Take That has achieved 28 top 40 singles and 17 top 5 singles in the UK Singles Chart since the band's formation in Manchester in 1990, 12 of which have reached number one, including 'Back for Good' and 'Greatest Day'. The Group has also had 8 number one albums on the UK Albums Chart. Internationally, Take That has had 56 number one singles and 39 number one albums, and has received 8 Brit Awards and an Ivor Novello Award.

As part of the deal, One Media has acquired the producer royalties of great hits 'A Million Love Songs', 'Could It Be Magic' and 'I Found Heaven', all from Take That's 1992 debut studio album, Take That & Party, which has been certified two-times platinum in the UK. The Company has also acquired the producer royalties of two other recorded Take That tracks which have never been released.

The acquisition, which was for a modest consideration, was completed through One Media's Harmony IP asset release programme. Harmony IP allows music rights holders advanced access to the future earnings of their intellectual property by purchasing a portion of their rights upfront.

Michael Infante, CEO of One Media iP, commented: "2021 has got off to an excellent start for One Media with our acquisition of the producer royalties of these Take That smash hits from Ian Levine, with whom we have worked closely since 2006 after signing our first digital deal for his Motorcity Records and Hi-NRG and Pop recordings.

"The acquisition follows our successful £6 million fundraise announced in August 2020 and marks the first of a strong pipeline of deals to be executed through our innovative Harmony IP programme. Given the current global crisis and corresponding impact on the live music sector, we have found an increasing number of artists are evaluating alternative income opportunities and are looking favourably upon our initiative.

"We remain focused on building momentum and scaling the business, and look forward to keeping the market updated on our progress."

-Ends-

One Media iP Group Plc Michael Infante - CEO Claire Blunt - Chairman	[phone] [phone]
Cenkos Securities plc (Broker) Max Hartley Max Gould Michael Johnson (Sales)	[phone]
Yellow Jersey PR (PR & IR) Charles Goodwin Annabel Atkins	[phone]

About One Media iP Group Plc

One Media is a digital music rights acquirer, publisher and distributor. The Group specialises in purchasing and monetising intellectual property rights with proven, repeat income streams.  One Media adds value to its content by maximising its availability in over 600 digital stores globally, including Apple Music, YouTube, Amazon and Spotify.

One Media's music is also widely used for synchronisation in film, TV and digital gaming whilst its video content is primarily viewed on YouTube where One Media operates over 20 YouTube channels as a certified partner.

One Media is listed on the London Stock Exchange on the AIM index, under the symbol 'OMIP'.

For further information, please visit www.omip.co.uk   and http://www.harmonyip.com/  

 

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