Round Hill acquires a bundle of music rights from David Coverdale, the Whitesnake and Deep Purple veteran.
“I am thrilled beyond words to joyfully announce that my existing catalog of works, both songs and master recordings, which I have been involved in creating for over 50 years, is now in exceptionally safe hands with the fine people at Round Hill,” Coverdale said in a statement. “I look forward immensely to working together with Josh Gruss and all at Round Hill to ensure the legacy of my existing works for future generations to enjoy.
Whitesnake hits included in the deal include “Here I Go Again,” “Is This Love,” “Crying In the Rain,” “Still Of the Night,” and “Fool for Your Loving.
According to the announcement, the catalog has a diversified income streams that is comprised of 39% from music publishing assets, 11% from neighboring rights and 50% from master recording rights, which further break out to 23% streaming; 17% physical; 4% download and 6% synchronization.estimates Coverdale’s share of the Whitesnake and Deep Purple publishing at $810,000 annually. Since publishing comprises 39% of the catalog’s annual income stream, that extrapolates out to about $2.
In the meantime, Trevor Bowen, the chair of the Round Hill Music Royalty Fund, said in a statement, “The Board is pleased to provide RHM shareholders with access to David Coverdale’s own legendary catalog of hits as the frontman from one of best known rock bands of all time, who helped to define an era of music. We are delighted to be deploying capital into such high-quality acquisitions while continuing to evaluate further attractive opportunities.
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