Songwriter and producer Ian Levine has sold his rights to a string of early hits by Take That to music publisher One Media iP Group.
The deal covers Levine’s producer royalties to tracks from the pop group’s 1992 debut album Take That & Party, including A Million Love Songs, Could It Be Magic and I Found Heaven.
Also included in the deal are two recorded Take That tracks which have never been released.
One Media iP Group did not disclose how much it paid for the rights, but said the acquisition was “for a modest consideration”.
Blackpool-born Levine, 67 – a moderniser of the Northern Soul genre – is the latest figure from the music industry to sell their rights to music publishers intent on securing a share of revenue in the streaming era.
Recent months have seen Mick Fleetwood sell interests in his Fleetwood Mac back catalogue to BMG and music fund Hipgnosis Songs snap up the rights to music by Neil Young, Blondie singer Debbie Harry and Mark Ronson among others.
In December, Universal Music Group announced it had acquired Bob Dylan’s entire back catalogue in a deal reported to be worth hundreds of millions of dollars.
Levine’s deal means One Media iP Group will now collect a fee every time one of those songs is streamed, played on the radio or used in a film or video game.
Michael Infante, chief executive of One Media iP, said: “2021 has got off to an excellent start for One Media with our acquisition of the producer royalties of these Take That smash hits from Ian Levine, with whom we have worked closely since 2006 after signing our first digital deal for his Motorcity Records and Hi-NRG and Pop recordings.
“The acquisition follows our successful £6 million (€6.7 million) fundraise announced in August 2020 and marks the first of a strong pipeline of deals to be executed through our innovative Harmony IP programme.
“Given the current global crisis and corresponding impact on the live music sector, we have found an increasing number of artists are evaluating alternative income opportunities and are looking favourably upon our initiative.
“We remain focused on building momentum and scaling the business, and look forward to keeping the market updated on our progress.”
