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Harmony buys Native Tongue in eight-figure acquisition, expands in Australia and New Zealand

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Keep in mind when it appeared the complete music trade was whispering about whether or not Harmony would promote as much as a significant music firm?

The reality about that narrative squeaked out back in April after we discovered that, sure, Harmony had explored the opportunity of a sale – however, no, it wasn’t prepared to do a deal for lower than an “extraordinary-plus” worth. Specifically: at the very least USD $6 billion.

(Bloomberg accurately reported in April that Harmony and its majority mother or father – pension fund Michigan Retirement Methods – had rejected two separate acquisition bids value $4.5 billion and $5 billion, respectively.)

That every one left Harmony closing the chapter on its consideration of a possible sale ($5 billion was evidently not deemed “extrordinary-plus”!), and dealing with the longer term as a well-funded unbiased.

But having gained a fame for being an aggressive music rights acquirer itself – and having spent a whopping USD $400 million shopping for Downtown‘s portfolio of copyrights last year – would Harmony shortly snap again into M&A mode, or go quiet?

At present (August 4), that query has been answered decisively, with the information that Harmony is increasing in Australia & New Zealand by way of the acquisition of music publishing firm Native Tongue – for a big price-tag.

Trusted sources near the deal in Australia inform MBW that Harmony spent an eight-figure US greenback sum on the acquisition, though they add that the ultimate transaction worth was considerably beneath the USD $50 million mark. (Harmony declined to touch upon these figures when contacted by MBW earlier at this time.)

Harmony, then, is formally again in enterprise as an acquisitive music firm – and increasing globally.

Consequent to the Native Tongue acquisition, Harmony is launching Concord Music Publishing ANZ, which can be based mostly in Melbourne, with workers in Sydney and Auckland.

 

Native Tongue was based in 2003 by Chris Gough. Since his semi-retirement in 2014, the corporate has been led by siblings Jaime and Chelsea Gough.

Harmony Music Publishing ANZ will now be led by Jaime Gough, Managing Director, and Chelsea Gough, SVP, together with their govt crew together with David Nash, VP Publishing and Matt Tanner, VP A&R.

The Native Tongue roster consists of writers reminiscent of Courtney Barnett, Stuart Crichton (Backstreet Boys, Kesha, Kygo), Sophie Curtis (Cosmos Midnight, Jessica Mauboy, aespa), Sir Dave Dobbyn, Jon Hume (Dean Lewis, Sofi Tukker), M-Phazes (Ruel, Remi Wolf), Don McGlashan, Ciara Muscat (NiziU, TWICE), Steve Rusch (Clinton Kane), Tim Tan (Enhypen, Seventeen), Gin Wigmore and Marlon Williams.

“That is the subsequent step, offering our home-grown writers with a really worldwide organisation able to maximising their potential worldwide.”

Chris Gough, Native Tongue 

“Jaime and Chelsea together with our great crew of individuals have grown the corporate considerably in recent times,” mentioned Native Tongue founder Chris Gough.

“That is the subsequent step, offering our home-grown writers with a really worldwide organisation able to maximising their potential worldwide.”

“Australia and New Zealand are vital music markets in their very own proper and this can be a area that now we have wished to spend money on for a few years.”

John Minch, Harmony

John Minch, Harmony’s President of Worldwide Publishing, mentioned: “Australia and New Zealand are vital music markets in their very own proper and this can be a area that now we have wished to spend money on for a few years.

“This can be an vital strategic transfer for Harmony in coordinating our Asia publishing initiatives, which Jaime will deal with. Above all, this acquisition is concerning the Native Tongue crew, who we all know properly and consider will actually take pleasure in being a part of Harmony.”

“That is the beginning of a brand new chapter for us.”

Jaime Gough, Harmony Music Publishing ANZ

Jaime Gough, Managing Director of Harmony Music Publishing ANZ, mentioned: “That is the beginning of a brand new chapter for us.

“Our crew has labored exhausting to supply the most effective publishing service within the area, so to mix this with the help of an unbiased world music powerhouse will allow us to supply a superior worldwide service for our native songwriters and artists.

“To have the ability to take this subsequent step with pals that now we have labored carefully with for a few years is thrilling. We all know Harmony believes within the crew now we have right here, and within the Australasian market. This can be enjoyable!”

Along with its successes in Australia and New Zealand, Native Tongue has labored on hits in Asia with songwriters on 5 Korean No.1-charting releases, and on two consecutive No.1 albums in Japan initially of 2022.

Native Tongue can also be the sub-publisher for a lot of worldwide catalogs and has represented Harmony (and beforehand Boosey & Hawkes and Imagem) in Australia & New Zealand for greater than 12 years.Music Enterprise Worldwide

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