Round Hill Music Buys The Offspring Catalog For $35 Million
Anyone who argues that the internet and digital age has led to the devaluation of music needs to read this: punk rock band The Offspring's catalog has sold for $35 million to Round Hill Music.
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New York-based music and media company Round Hill Music has acquired the catalog of pop-punk rockers The Offspring.
According to Billboard, the terms of the deal were not officially disclosed, by sources said that Round Hill paid approximately $35 million for the band's catalog. Included in deal were the band's Columbia master recordings and the band's music publishing, including their time on Epitaph Records, though the label still owns those albums.
Sources told Billboard that the band's catalog produced $3.1 million in net publisher or net label revenue, putting the deal at a multiple of at least 11.3.
Originally formed in 1984 in Huntington, California, The Offspring are noted as one of the bands who helped return punk-pop music to the mainstream in the 1990s. Over the course of their career, the group has released nine studio albums and sold more than 36 million albums worldwide. They are currently in the studio, working on their tenth album, which is due for release this year.
via CelebrityAccess
