Litmus Music Expands Its Reach, Acquires Randy Newman's Iconic Catalog

Litmus Music, the music investment firm backed by Carlyle's Global Credit Platform, has been making waves in the industry with its strategic acquisitions. The company's latest move is the acquisition of legendary songwriter Randy Newman's recorded music and publishing rights, further solidifying its position as a powerhouse in the music asset management space.

Unlocking the Timeless Melodies of a Musical Genius

Expanding the Litmus Music Portfolio

Litmus Music, founded in 2022 by industry veterans Dan McCarroll and Hank Forsyth, has been on a acquisition spree, snapping up catalogs from the likes of Benny Blanco, Keith Urban, and Katy Perry. Earlier this year, the company made a significant move by acquiring the music asset portfolio of Opus, which included rights to catalogs from Juice WRLD, Ozuna, Maluma, and Rauw Alejandro.

Acquiring the Legendary Randy Newman Catalog

The latest addition to Litmus Music's growing portfolio is the acquisition of Randy Newman's share of his recorded music and publishing rights. This catalog encompasses Newman's acclaimed soundtrack work for Disney franchises such as Toy Story, Cars, and The Princess & The Frog, as well as his iconic studio albums from the 1970s and 1980s, including timeless hits like "I Love L.A.," "Mama Told Me Not To Come," "Feels Like Home," "You Can Leave Your Hat On," "Short People," "Baltimore," and "It's A Jungle Out There."

Unlocking the Value of Newman's Enduring Legacy

The acquisition of Randy Newman's catalog is a strategic move by Litmus Music, recognizing the enduring value and influence of the acclaimed songwriter's work. Newman's music has touched generations, transcending time and illuminating beloved films. Litmus Music's co-founders, Dan McCarroll and Hank Forsyth, expressed their excitement and pride in partnering with Newman, acknowledging the responsibility they have in caring for these timeless songs and recordings.

Carlyle's Backing and the Music Industry's Potential

Litmus Music's acquisition of the Randy Newman catalog is further bolstered by the company's strong financial backing from Carlyle's Global Credit Platform. Earlier this year, Litmus increased the size of its credit facility from Carlyle, enabling it to complete the Opus acquisition and now the Randy Newman deal.According to Alex Popov, Head of Private Credit at Carlyle, the music industry presents significant investment opportunities due to its uncorrelated income streams and the stability of demand for iconic catalogs like Newman's. Popov highlighted the value created by the affiliation between Newman's music and Disney's beloved franchises, making it an attractive asset for Litmus Music and its investors.

Preserving and Promoting the Legacy of a Songwriting Legend

The acquisition of Randy Newman's catalog represents Litmus Music's commitment to preserving and promoting the work of legendary songwriters and composers. Newman's unique and brilliant artistry, marked by his witty, observational, and sharply crafted songs, has cemented his place as a true icon in the music industry.Litmus Music's co-founders, McCarroll and Forsyth, expressed their deep appreciation for Newman's influence and the honor of being entrusted as his partner in caring for his songs and recordings. This acquisition further solidifies Litmus Music's position as a leading player in the music asset management space, with a growing portfolio of iconic catalogs that continue to captivate audiences worldwide.