Trading Update & Factsheet

Round Hill Music Royalty Fund Ltd

13 July 2023

 

13 July 2023

Round Hill Music Royalty Fund Limited

("RHM" or the "Company")

Unaudited first quarter 2023 revenue and factsheet

Net revenue for the first quarter to 31 March 2023 was up 94% year on year, to US$10.2 million.

Revenue (IFRS, US$ millions):	1Q'23	1Q'22	YoY % increase
Group Revenue[1]	$10.18	$5.25	94%
Publishing Revenue	$6.35	$3.09	106%
Publishing (NPS)	$5.03	$3.24	55%
Publishing (Accrual movement)	$1.32	$(0.15)	NM
Masters Revenue	$2.40	$1.72	40%
Masters (NLS)[2]	$3.58	$1.59	125%
Masters (Accrual movement)	$(1.18)	$0.13	NM
Carlin Investment Income	$1.43	$0.44	225%
Initial Investments Revenue (NPS/NLS)[3],[4]	$6.21	$5.17	20%

Round Hill Music Royalty Fund Limited has today published its quarterly factsheet to the end of June 2023. Copies can be downloaded from the Company's website: www.roundhillmusicroyaltyfund.com.

FOR FURTHER INFORMATION

Round Hill Music LP
Josh Gruss, Founder and CEO	Via Fourth Pillar below
Steve Clark, COO
Cenkos
Sales:
Justin Zawoda-Martin	[phone]
Daniel Balabanoff	[phone]
Andrew Worne	[phone]
Corporate:
James King	[phone]
Will Talkington	[phone]
Fourth Pillar (Financial PR)
Claire Turvey	[phone] / [e-mail]
Lynne Best	[phone] / [e-mail]
Tomas Nevrkla	[phone] / [e-mail]
JTC
Mariana Enevoldsen	[phone]

About Round Hill Music Royalty Fund Limited

Round Hill Music Royalty Fund invests in high quality, evergreen music catalogues that have proven longevity and revenue streams, with the aim of providing investors with an attractive level of regular and growing income and capital returns, underpinned by the positive structural drivers of the global music industry.

The portfolio, valued at US$602.6 million[5] as at 31 December 2022, is diversified by income stream and music genre, with value created through the proactive and careful management and commercialisation of the repertoire through synchronisation (placement in films, television series and brand campaigns); licensing; data cleaning; and distribution (including across platforms such as Amazon Music, Apple Music, Deezer, and Spotify). 

Its 51 catalogues, totalling over 120,000 songs, include music performed by artists such as Alice in Chains, Bonnie Tyler, Bruno Mars, Céline Dion, Lady A, Louis Armstrong, The Offspring, The Supremes, Whitesnake and Wilson Pickett.

The portfolio of rights includes copyright interests in a musical composition or song (which can be the writer's share, publisher's share and/or performance rights), the rights to the recording of a musical composition or song (the master recording rights), as well as music rights and assets that meet the Company's investment strategy and objectives.  The Company is a non-cellular Guernsey company.

A playlist of RHM's top 50 earners can be listened to on Spotify here. We recommend it served loud.

About Round Hill Music LP (the Investment Manager)

Founded in 2010, Round Hill Music LP is a fully integrated owner and operator of music copyright properties. It currently manages 150+ catalogues, totalling 330,000+ songs with a combined value of c.US$1.2 billion.

With c.70 employees located in the major music and entertainment markets of Nashville, New York, Los Angeles and London, Round Hill Music LP has an experienced management and investment team with an established reputation and extensive expertise in the music and finance industries.

Notes

Terms defined in the prospectus published by the Company on 19 October 2020 and the supplementary prospectus published on 3 November 2020 (together the "Prospectus") shall have the same meaning when used in this announcement.

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[1] Group Revenue is made up of Royalty income, Investment income and Royalty expenses.

[2] Increase in Masters NLS is attributable to Catalogue acquisitions including Alice In Chains, David Coverdale and Dennis Elliott.

[3] Initial Investments represent the First Investment (Round Hill Fund One excluding the Carlin Investment) and the Carlin Investment.

[4] Net Publisher Share ("NPS") is 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. Net Label Share ("NLS") is the amount received by the owner of master recordings after deduction of all fees, commissions and all royalties and other shares of income payable to third parties.

[5] Includes net recoupable advances to songwriters of US$3.8 million.

 

END