Joshua Bell (Photo: Shervin Lainez)
ICM ASSET MANAGEMENT has partnered with PARK AVENUE ARTISTS, a NEW YORK CITY-based artist management and production company, to identify strategic investment opportunities within the music creator community for its ICM CRESCENDO MUSIC ROYALTY FUND.
The first investment under the new deal is ICM CRESCENDO’s purchase of a set of royalties from GRAMMY-winning classical violinist JOSHUA BELL, a PARK AVENUE ARTISTS client.
Unlike many of the standard catalog acquisition models, the flexibility offered by ICM CRESCENDO means creators can consider selling rights to an entire catalog, select songs, a portion of the rights to select songs, or other revenue streams altogether.The fund leverages a proprietary data-driven machine learning model to value royalties, working with rights owners to provide transparent valuations. The fund’s approach is distinguished by its flexibility in evaluating an artist’s revenue portfolio, the diversity of streams it incorporates in its analysis, and its prioritization of an artist-driven perspective.
Commented ICM ASSET MANAGEMENT partner DAVID VANKKA, “At ICM CRESCENDO, we have built a model that is based on complete transparency and openness with the creative community and their business teams. We are interested in music creators in virtually every genre and level in the global music industry and our approach has already resonated within the music industry. PARK AVENUE ARTISTS has built a reputation for having a keen eye for finding and developing successful creators in virtually every genre and corner of the globe, and we are thrilled that they will be our partners in identifying royalty stream acquisitions for this fund.”
Added PARK AVENUE ARTISTS Co-President ROSS MICHAELS, “ICM CRESCENDO recognizes the potent long-term earning power of credible artists like JOSHUA, who is interested in deploying capital to branch out into other business verticals. Our work with DAVID and his team on their JOSHUA BELL royalty acquisition has shown us firsthand how simple and powerful their business model is to empower music creators to unlock value in their catalogs. The flexibility that is given to an artist like JOSHUA to evaluate a partnership via revenue streams is a distinguishing factor from the rigid and one-size-fits-all catalog acquisitions many people are seeing in this space currently. Proud to say we at PARK AVENUE ARTISTS have developed artists who have, and will, stand the test of time and these are the types of artists we will be targeting for the fund."
Other PARK AVENUE ARTISTS clients include YEBBA, MIA GLADSTONE and JORDAN DONICA, among others.
« back to Net News
