Purpose: Administration
Task: Valuation and Realisation
Sector: Music Rights
Location: UK
Acting on behalf of the Administrators we were engaged to prepare a valuation opinion of the value vested in the exploitable music rights held by Ken Downing Ltd. The rights had been assigned to the company by KK Downing, former guitarist of the heavy metal band Judas Priest.
The preparation of such an opinion required considerable work to understand the dynamics of the catalogue of works which titles drive the income and why. The future potential of the income stream generated by the rights needs to be considered, with reference to historical performance, and future influencing factors such as listening behaviour and sales channels, particularly in light of streaming services.
Subsequently, we undertook a marketing campaign in conjunction with our client, identifying and targeting potential purchasers. Wyles Hardy & Co then engaged in a structured realisation programme, distributing information and drawing the process to a conclusion by imposing an offer deadline. This process led to a multi-million pound sale to a global music rights enterprise.
Wyles Hardy have an extensive background in the appraisal and realisation of intangible rights assets, similar cases undertaken in this area include:-
Douris Corporation Ltd : Management and realisation of the film rights vested in the Rohauer Collection of classic films including the entire Buster Keaton catalogue
I.M. Kirkham : Former saxophonist with Simply Red, appraised prior to sale of performance and equitable interest in 72 recordings for the Trustee in Bankruptcy
Green Screen Productions Ltd. : Appraisal of rights on behalf of the Liquidators regarding film productions
Elm Street Media Ltd. & Subsidiaries : Appraisal, marketing and realisation of film, TV and music rights on behalf of the Liquidators