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One Media iP thrilled with performance of the Philip Wesley catalogue

One Media bought the catalogue a year or so ago. Part of the payment was conditional on how well the portfolio performed. The company has been happy to stump up the final US$100,000.

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Image courtesy of https://philipwesley.com

One Media IP Group PLC (LON:OMIP) has now paid the final US$100,000 of the fee for the acquisition of the music catalogue of Philip Wesley.

The digital music rights acquirer, publisher and distributor acquired the catalogue of the American composer and solo piano artist a year ago but part of the payment was deferred, as it was dependent on how well the deal panned out.

“The catalogue of Philip Wesley has been a fantastic addition to our portfolio and is in line with our strategy of acquiring catalogues with proven popularity, longevity and growth in streaming revenue,” said Michael Infante, the chief executive of One Media iP.

“We are now in the process of evaluating further acquisition opportunities, which would be executed primarily through our Harmony IP asset release programme. At the same time we are also looking at possibilities to scale our technical analysis copyright tool, TCAT, for wider use across the music industry,” he added.

Quick facts: One Media IP Group

Price: 6.075 GBX

AIM:OMIP
Market: AIM
Market Cap: £13.48 m
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