Sony Music Group Enters Investment Partnership With GIC

Singapore state-owned investment company GIC has teamed with Sony Music Group (SMG) to establish an investment partnership to acquire and amplify music catalogs.

The details:

• Though figures regarding capital have not been disclosed, Digital Music News quotes Bloomberg in estimating an anticipated investment of $2 billion to $3 billion.

• The partnership is backed by Sony Bank.

• As per Sony’s media release, “GIC’s long-term capital” and SMG’s “operational expertise” will enable the acquisition of “high-quality, marquee music catalog assets across a range of genres.”

• There are currently no details on potential acquisitions.

What they said:

• Girish Karira, Head of Integrated Strategies Group, GIC: “As a long-term investor, GIC seeks to be a creative and flexible capital partner to strategic industry leaders like Sony. The music ecosystem is a resilient sector with attractive long-term growth prospects and we are excited about the next stage of streaming monetization through premiumization and subscriber growth in emerging markets. This investment alongside Sony Music Group, a leading global player with deep industry expertise and strong operational capabilities, builds on GIC’s longstanding relationship with Sony Group, which we look forward to further strengthening.”