Round Hill Music expands portfolio with Rage Against The Machine deal

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Round Hill Music snaps up Rage Against The Machine’s Killing In The Name as part of producer package deal

  • Listed royalty fund Round Hill Music has announced two package deals
  • It has bought reggae band Rebelution’s catalogue as well as producers Jack and Garth Richardson’s 
  • The Richardson catalogue includes the Rage Against The Machine hit   


Rights to the one-time Christmas number one Killing In The Name have been sold to the Round Hill Music fund as it continues to expand its portfolio.

Round Hill Music is one of two London-listed music rights funds, which buy music catalogues from labels or artists and cash in on the income generated by royalties. Its portfolio includes everything from Bonnie Tyler to the Backstreet Boys.

This morning it announced two package deals: an acquisition of a catalogue from Canadian producers Jack and Garth Richardson, and a deal to buy reggae band Rebelution’s back catalogue.

Round Hill Music, led by Josh Gruss, has struck a deal for Jack and Garth Richardson's catalogue which includes Rage Against The Machine's Killing In The Name.

Round Hill Music, led by Josh Gruss, has struck a deal for Jack and Garth Richardson’s catalogue which includes Rage Against The Machine’s Killing In The Name.  

The Richardson deal includes production income rights to 308 songs by artists such as Alice Cooper, Nickelback and Rage Against The Machine, including the band’s 1992 hit Killing In The Name.

Round Hill did not disclose the financial details of the deal due to ‘commercial sensitivities’.

Trevor Bowen, chair of the fund, welcomed the ‘landmark acquisition that provides the company with exposure to a range of timeless classic tracks.’

‘Jack and Garth Richardson are exceptionally well-regarded producers and their impressive catalogue further diversifies RHM’s portfolio in terms of genre and royalty type with the addition of key tracks from some of alternative metal’s best-known bands.’

In a separate statement, Round Hill announced a deal to buy the master and publishing rights of American reggae band Rebelution’s back catalogue.

Six of the seven albums included in the deal went to number one in the US reggae charts and in 2016 the band was nominated for a Grammy.

While 73 per cent of the revenue exposure comes from streaming, Rebelution’s extensive touring will help ‘propel future catalogue revenues’.

Interest in royalties has picked up over the last 18 months in large part because of the volatility in markets – it has little to no correlation to equities – but also strong streaming figures.

Music has evolved from being a discretionary spend to more of a utility and streaming is now the largest component of recorded music revenues according to Liberum analysis.

The FTSE 250- listed fund Hipgnosis Songs has received a lot of attention after going on a huge spending spree since its Initial Public Offering in London in 2018.

The fund’s portfolio, run by Merck Mercuriadis, includes songs by Michael Jackson and Whitney Houston.

While some corners of the industry have been hit during the pandemic, Hipgnosis and Round Hill have relatively low exposure to the worst affected segments like live events.

Instead they focus on what Roundhill chief executive Josh Gruss terms ‘evergreen’ catalogues, which sees the fund buy up songs from 20 to 30 years ago.

‘These royalties can be very consistent and annuity-like, especially if it’s a classic song and the ones you hear day in day out like Queen or Fleetwood Mac,’ Gruss previously told This Is Money.

‘Those types of classic songs are going to be listened to, there’s a beautiful consistency to it. We’re buying into these classic copyrights and enjoying the durability and growth of them.’

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