Universal Music Group has struck an statement to acquire majority power of nan 2nd largest euphony catalog successful Thailand, 1 of nan fastest increasing euphony markets successful Asia.
It is buying 70% of nan euphony catalog of RS Group, a banal market-listed euphony supplier and creator guidance group.
In its regulatory filing, RS group said that UMG is paying $45 cardinal (THB1.61 billion) for nan liking and that earn-out payments could assistance this by a further $44.9 cardinal (THB174 million). The woody is expected to adjacent successful nan 3rd 4th of nan year.
The euphony catalog will past shape nan halfway of a caller business betwixt UMG and RS Group pinch UMG becoming RS Group’s exclusive music service partner for caller releases and new music repertoire worldwide. UMG will besides person exclusive authorities of first refusal and matching authorities to get caller releases and repertoire. UMG will go nan second-largest subordinate successful nan Thai euphony market.
Thailand’s recorded music sector’s gross grew by 20% successful 2022 to surpass $100 cardinal for nan first clip ever according to IFPI’s Global Music Report, 2022.
The RS catalog comprises much than 10,000 maestro recordings and 6,000 copyright ownerships, publishing authorities and licenses making love from 1981-2022 and represents nan activity of much than 960 artists. Notable Thai acts included successful nan catalogue are, Dan-Beam (pop duo), James Ruangsak Loychusak (pop), Parn Thanaporn Wagprayoon (ballard diva), Stone Metal Fire (90s stone band), Ble Patumrach (country), Lydia Sarunrat Deane (R&B queen), Thanapol Intharit (rock) and Four-Mod Kamikaze (pop).
“I americium highly excited astir nan expanded domiciled that this business will alteration UMG to play successful specified a fast-growing and important music market. Thailand has immense untapped potential, pinch consumers who desire ever much quality music,” said Calvin Wong, CEO, Universal Music Southeast Asia & elder VP of Asia. “[The] announcement will supply UMG pinch nan standard to make a meaningful effect wrong nan Thai music ecosystem and to use from its continued growth.”
“We are gladsome to partner pinch UMG, arsenic a intends to grow opportunities for Thai music in nan world market. It will besides play a important domiciled successful driving Thai soft powerfulness and people nan first stepping-stone for early projects and businesses,” said Surachai Chetchotisak, CEO of RS Public Company Limited.