REG - Round Hill Music - Trading Update & Factsheet

Round Hill Music Royalty FundAnnouncement

13/07/2023 07:00

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RNS Number : 8424F  Round Hill Music Royalty Fund Ltd  13 July 2023

13 July 2023

 

 

Round Hill Music Royalty Fund Limited

("RHM" or the "Company")

 

Unaudited first quarter 2023 revenue and factsheet

 

Net revenue for the first quarter to 31 March 2023 was up 94% year on year, to
US$10.2 million.

 

 Revenue (IFRS, US$ millions):                                       1Q'23    1Q'22    YoY % increase
 Group Revenue 1  (#_ftn1)                                           $10.18   $5.25    94%
 Publishing Revenue                                                  $6.35    $3.09    106%
     Publishing (NPS)                                                $5.03    $3.24    55%
     Publishing (Accrual movement)                                   $1.32    $(0.15)  NM
 Masters Revenue                                                     $2.40    $1.72    40%
     Masters (NLS) 2  (#_ftn2)                                       $3.58    $1.59    125%
     Masters (Accrual movement)                                      $(1.18)  $0.13    NM
 Carlin Investment Income                                            $1.43    $0.44    225%
 Initial Investments Revenue (NPS/NLS) 3  (#_ftn3) (, 4  (#_ftn4) )  $6.21    $5.17    20%

 

 

Round Hill Music Royalty Fund Limited has today published its quarterly
factsheet to the end of June 2023. Copies can be downloaded from the Company's
website: www.roundhillmusicroyaltyfund.com
(http://www.roundhillmusicroyaltyfund.com) .

 

 

 

 

 

 

FOR FURTHER INFORMATION

 Round Hill Music LP
 Josh Gruss, Founder and CEO    Via Fourth Pillar below
 Steve Clark, COO

 Cenkos
 Sales:
 Justin Zawoda-Martin           +44 20 7397 1923
 Daniel Balabanoff              +44 20 7397 1909
 Andrew Worne                   +44 20 7397 1912

 Corporate:
 James King                     +44 20 7397 1913
 Will Talkington                +44 20 7397 1910

 Fourth Pillar (Financial PR)
 Claire Turvey                  +44 7850 548 198 / claire@thefourthpillar.co.uk
 Lynne Best                     +44 7763 619709 / lynne@thefourthpillar.co.uk
 Tomas Nevrkla                  +44 7963 548865 / tomas@thefourthpillar.co.uk

 JTC
 Mariana Enevoldsen              +44 1481 702 485

About Round Hill Music Royalty Fund Limited

Round Hill Music Royalty Fund invests in high quality, evergreen music
catalogues that have proven longevity and revenue streams, with the aim of
providing investors with an attractive level of regular and growing income and
capital returns, underpinned by the positive structural drivers of the global
music industry.

The portfolio, valued at US$602.6 million 5  (#_ftn5) as at 31 December 2022,
is diversified by income stream and music genre, with value created through
the proactive and careful management and commercialisation of the repertoire
through synchronisation (placement in films, television series and brand
campaigns); licensing; data cleaning; and distribution (including across
platforms such as Amazon Music, Apple Music, Deezer, and Spotify).

Its 51 catalogues, totalling over 120,000 songs, include music performed by
artists such as Alice in Chains, Bonnie Tyler, Bruno Mars, Céline Dion, Lady
A, Louis Armstrong, The Offspring, The Supremes, Whitesnake and Wilson
Pickett.

The portfolio of rights includes copyright interests in a musical composition
or song (which can be the writer's share, publisher's share and/or performance
rights), the rights to the recording of a musical composition or song (the
master recording rights), as well as music rights and assets that meet the
Company's investment strategy and objectives.  The Company is a non-cellular
Guernsey company.

A playlist of RHM's top 50 earners can be listened to on Spotify here
(https://open.spotify.com/playlist/4P46C6opRHt0reXwyy7dRt?si=ad5e135307ec4a14&nd=1)
. We recommend it served loud.

About Round Hill Music LP (the Investment Manager)

Founded in 2010, Round Hill Music LP is a fully integrated owner and operator
of music copyright properties. It currently manages 150+ catalogues, totalling
330,000+ songs with a combined value of c.US$1.2 billion.

With c.70 employees located in the major music and entertainment markets of
Nashville, New York, Los Angeles and London, Round Hill Music LP has an
experienced management and investment team with an established reputation and
extensive expertise in the music and finance industries.

Notes

Terms defined in the prospectus published by the Company on 19 October 2020
and the supplementary prospectus published on 3 November 2020 (together the
"Prospectus") shall have the same meaning when used in this announcement.

 1  (#_ftnref1) Group Revenue is made up of Royalty income, Investment income
and Royalty expenses.

 2  (#_ftnref2) Increase in Masters NLS is attributable to Catalogue
acquisitions including Alice In Chains, David Coverdale and Dennis Elliott.

 3  (#_ftnref3) Initial Investments represent the First Investment (Round Hill
Fund One excluding the Carlin Investment) and the Carlin Investment.

 4  (#_ftnref4) Net Publisher Share ("NPS") is the amount received by the
music publisher after deduction of all fees, commissions and all royalties and
other shares of income payable to third parties. Net Label Share ("NLS") is
the amount received by the owner of master recordings after deduction of all
fees, commissions and all royalties and other shares of income payable to
third parties.

 5  (#_ftnref5) Includes net recoupable advances to songwriters of US$3.8
million.

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