The digital music rights acquirer, publisher and distributor said the acquisition has been funded through the company’s existing cash resources.
Kid Creole and the Coconuts is a band created by self-styled “Tropical Gangster” August Darnell. The group’s best-known hits are “I’m A Wonderful Thing, Baby”, “Annie, I’m Not Your Daddy” and “Stool Pigeon”.
On the music streaming platform Spotify alone, Darnell commands more than 154,000 listeners monthly and his chart-topping hit “Annie, I’m Not Your Daddy” has been streamed more than 4mln times.
"I started Kid Creole and the Coconuts in 1979. I had no idea then that I was destined to enjoy success around the world for the next 40 years. With the team at One Media iP and their Harmony iP initiative I have now ensured my musical legend will continue for another 40 years," said Darnell, a man who does not lack self-confidence (as can be deduced from some of his song titles).
Michael Infante, the chief executive of One Media iP, said the company was delighted to announce its third acquisition of 2021 through its Harmony iP programme.
“Acquisitions such as these continue to add value to our business through a recurring revenue model and as such, we have a strong pipeline of future acquisition targets for 2021. Furthermore, our proprietary market-leading anti-piracy TCAT software can underpin and police the future integrity of artists income by assuring that all uses of tracks under our umbrella are protected and enforced and that all reporting of usage is carefully monitored. This is a significant advantage for One Media when securing royalty acquisitions such as these, and a huge positive for all parties involved in the income chain of rights monetisation,” Infante said.