One Media iP Group PLC (AIM:OMIP, FRA:1M9) (AIM:OMIP) has acquired a percentage of the licensor's share of the royalties in the 5868 Ltd catalogue of rights, which contains the income derived from over 1,000 recordings.
5856 Ltd has been a long-term licensor to One Media and its income has grown over the last 10 years in line with the music industry's growth, said the statement.
Recordings by Muddy Waters, Tina Turner, Don Williams, Sister Sledge and Taveres are included in the 5868 catalogues.
Through this deal, One Media will retain a percentage of the amount that it was paying in royalty fees and boost profits through cost savings.
Michael Infante, One Media iP’s chief executive, said: "Acquiring royalty rights that the company has previously paid out is a sensible profitable addition to our acquisitive strategy."
No financial details were disclosed.
One Media specialises in intellectual property rights with proven, repeat income streams that are then made available in over 600 digital stores globally, including Apple Music, YouTube, Amazon and Spotify.