Music Publishing News Weekly Roundup 8.1.14: SESAC Expands, Pharrell, Three Six Zero & More
SESAC plans to expand by hiring new chairman and CEO John Josephson. As Co-founder of Downtown Music LLC, former managing director to Allen & Co, and 22 year SESAC board member, Josephson plans to expand the business beyond traditional performing rights. With US PRO’s facing potential withdrawal from major publishers, SESAC predicts these companies will be looking for other options. With a reported $35 Million offer to Harry Fox Agency, SESAC hopes to expand their services to mechanical royalties. This is something ASCAP and BMI cannot do due to consent decrees. SESAC has also acquired a major stake in licensing platform Rumblefish, paying a reported $15 Million for expanded rights. Being the only invitation-only PRO in the US, SESAC will also continue to acquire premium catalogs. Recent acquisitions include Kurt Cobain and Mariah Carey.