Photo Credit: Peterboropetes / CC by 4.0
Beyond Music has announced it has acquired the music catalog of Canadian producer and songwriter Greg Wells.
Wells has produced and written songs for Adele, Taylor Swift, John Legend, Dua Lipa, Quincy Jones, Katy Perry, and many others. This deal marks the first time a Korean company has acquired a North American music catalog since HYBE bought Ithaca Holdings from Scooter Braun last year.
The company’s wholly-owned subsidiary Beyond Music US has completed the acquisition of Wells’ catalog, which includes songs from albums that have sold more than 130 million copies. Greg Wells has earned five Grammy nominations and one award. The catalog includes works such as Adele’s “One and Only,” John Legend’s “Never Break,” Dua Lipa’s “Garden,” OneRepublic’s “Apologize,” Katy Perry’s “Cozy Little Christmas,” and Twenty One Pilots “Car Radio” among many others.
Beyond Music’s first major U.S. acquisition aims to accelerate its growth to become a global music rights management company with more than 26,000 Asian and international music rights.
Last September, CT Investments, a division of its parent company Contents Technology, launched KPOP and Korean Entertainment ETF (KPOP ETF), giving investors a chance to participate in the growth of Korean pop music and culture. The KPOP ETF began trading on the NYSE Arca exchange on September 1. Beyond Music previously spent more than $200 million on multiple major catalog acquisitions within Asia, including FNC Investment and Interpark’s music catalog.
“Now is the time to become a global music rights management company by securing not only Asian, but also international music rights,” adds Beyond Music CEO Jangwon Lee. “We will continue to become the game changer in the market and create positive synergy through close cooperation with media and entertainment companies for the industry’s growth.”
“It is indeed an honor to be the first major music catalog acquisition for Beyond outside the Korean market,” adds Greg Wells. “I am impressed with their commitment to creative freedom as well as maximizing the impact of my songs. I feel my work is in good hands with them.”