NEW YORK (CelebrityAccess) — One77 Music, a new music publishing company has launched in New York, with an eye for new catalog and apparently deep pockets.
Led by veteran music exec Jennifer Blakeman, the publisher launches with a catalog of more than 6,000 songs, which One77 values at $27 million as well as a substantial, but undisclosed capital investment.
One77 is backed by private equity investor Virgo Capital, as investors are increasingly attracted to music copyrights as an asset class in the era of ascendant streaming.
“We are actively seeking to acquire a diverse array of catalogs,” Blakeman said in a statement. “An ideal fit would be to acquire a catalog owned by heirs who have an emotional attachment to the songs but feel overwhelmed in knowing how to maximize the legacy. We’re also looking to do deals with established acts that are basically comfortable with their existing situation but are not ‘invigorated’ and need more attention.”
One77’s song catalog boasts hits such as Martina McBride’s “In My Daughter’s Eyes,” Luke Bryan’s “Crash My Party,” ink’s “Setting the World on Fire,” and Jason Aldean’s “A Little More Summertime.”
one77’s active roster also includes three-time Grammy winner, writer/producer, Sean Garrett, who has penned hits for the likes of Beyonce and Nicki Minaj, and Alex Winston of Post Precious fame.
One77 is partnered with Kobalt Music, which will serve as global administrator for their copyrights.
Blakeman will serve as the company’s President and CEO. She comes to the role with experience as both a musician and founder of the band Private Life, and working as a touring keyboardist with artists such as Billy Idol and David Cassidy.
She also has experience on in the label world, serving as senior Vice President of creative at Universal Music Publishing Group. Other executive roles for Blakeman include stints at Cherry Entertainment Group, Atlantic Records, Universal Pictures, Universal Music Group, and later Zomba Publishing.
Blakeman is also an Adjunct Professor of Music Publishing at New York University.