BMG has acquired the catalogue of Mute Records – previously owned by EMI – from Universal Music Group. The asset is rumoured to have cost BMG around £7 million.
The agreement includes recordings by the likes of Depeche Mode, Yazoo, Nick Cave and Moby and is the first deal to result from the disposal of assets ordered by the European Commission following Universal Music’s acquisition of EMI Records.
BMG says it will continue to pursue further acquisition opportunities regarding master rights. The agreement is pending subject to regulatory approval by the European Commission.
BMG CEO Hartwig Masuch said, “We are delighted to become the new custodians of the Mute Records catalogue, one of the most prized and influential in electronic and alternative music and a testament to the vision and A&R skills of Daniel Miller. BMG looks forward to working with all the artists concerned to give these copyrights the care and attention they deserve.”
Mute Records was founded in 1978 by Daniel Miller. After signing Depeche Mode in 1980, Mute gained worldwide recognition and supported a range of experimental artists. Its next big artist hit, Yazoo (Vince Clarke and Alison Moyet), was followed over the years by Erasure, Nick Cave & The Bad Seeds, Moby and Goldfrapp.
Depeche Mode alone are estimated to have sold over 100m singles and albums, including 48 hit UK singles and one US and two UK Number One albums.
Said Masuch, “Earlier this year we said we would double our income from master recordings this year. I am glad to say we have more than exceeded this target. Creating a balanced portfolio of publishing and master rights remains central to our vision of creating a new digital-age music company.”Music Business Worldwide
